Funders urged to show leadership

A December 11 article in Philanthropy Journal discussed how Grantmakers for Effective Organizations asked 1,700 individual members representing 350 funders to do five things during this time of economic stress:

•    Hold 2009 grant budgets steady at 2008 levels, a move that could mean paying out more than 5 percent of assets.
•    Look for “no-cost” ways to boost nonprofits, including releasing restrictions on current grants, and thus allowing nonprofits to react to the changing environment.
•    Give grantees more flexibility to update, alter or replace programs by providing operating grants; consider providing cash-flow loans or access to credit.
•    Continue making high-dollar, multiyear grants, investing in leadership support, and funding efforts to learn and evaluate.
•    Engage with key stakeholders to better understand the challenges they face and how funders can help.

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