Keeping an Eye on the Economy

I want to revisit a post that I wrote two months ago, admittedly more optimistic than I am now about the impact of the economic crisis on philanthropy and nonprofits.  As a sector, we’re in for a tough road in 2009; there’s no getting around it. I hear news almost daily of foundations losing assets and tightening up on grantmaking.

The Mitchell Kapor Foundation isn’t exempt from this madnesss, of course, but we’re committed to maintaining current overall funding levels in the first three quarters of the new year. We’ll keep a close eye on our investments and assets throughout 2009 and will make a better determination about 2010 as we see how the economy responds.

The implication here is that we’ll probably focus on renewal relationships and make many fewer new grants. If you’re interested in engaging with us for the first time, please call me or Carmen Rojas before proceeding with the grant application.

My hope – the silver lining – is that this recession will encourage further entrepreneurialism and efficiency across sectors. We’ll try to do our part.

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