"But what about those of us in the nonprofit world? Where's our bailout?"
Nope, not The Onion. Here's the sales pitch:
My child-care agency, supported largely by government contracts -- federal and state dollars partially matched by county funds -- went nine years without an increase in the rate of funding it receives. During those years, the cost of a child-care worker rose from $23,000 a year to $29,000 a year. Multiply that figure by our 100 child-care workers, and we are facing a $600,000 shortfall in just one job category. No industry in the public or private sector could have survived nine years of flat funding.
How will we make up that shortfall? Fundraising? Unlikely, in this economy. And investment losses have had a profoundly negative effect on endowed organizations. We need a bailout.
reason's sock puppet and assorted goodies here.
