Nonprofits Fear Lean Times

Here is a NY Times article relating how museums are contemplating the impact of the economy. The article discusses the sense of worry among museums, but not much in detail on how they are preparing. It would be fair to say that all nonprofits are contemplating the same issues. In fact, a recent survey of Connecticut nonprofits shows active cutbacks and hiring freezes. Facing budget cuts and a possible decrease in donations, how are you proactively addressing these issues? How do organizations replace decreasing funding sources?

How about some ideas to prime the pump? Not one to reinvent the wheel, read John Haydon's CorporateDollar.org blog post about this topic. And one more suggestion: Network for Good's Katya Andresen offers Six Ways to Survive the Economic Storm. Or Joanne Fritz's article, The Nonprofit Hard Times Survival Guide. Take a look at http://delicious.com and search the tag tougheconomy for other articles that we've began tagging. Join us in tagging or post your suggestions here.

On a side note about funding, in recent years Peer-to-Peer Lending companies have become a growing trend. Basically, these sites build on the idea of social networking. At the very foundation, these online companies allow individuals to solicit loans and on the other side, individuals to make loans. Have any nonprofits investigated these sources for lending or financing? Here is recent post about Peer-to-Peer Lending companies from Brad Stone, author of the Bits Blog (Business Innovation Technology Society) with the NY Times.