Source: Washington Post By Vanessa Small
Nonprofits have had to become ever more creative as the economic slowdown lingers — and their work is only just beginning. Two of the Washington DC region’s largest philanthropic organizations, Fannie Mae and Freddie Mac, announced plans to phase out their charitable giving. Corporations are becoming much more selective in their philanthropy. And foundation budgets remain largely stagnant — they are handing out fewer grants — amid fears of continued budget cuts from the federal government.
As a result, Washington area charities and others are scrambling for new ways to raise money.