Fundraising in California (1st Quarter 2009)
By Tom Wilson Major Gifts Guru
I just got back from my AFP Capitol Chapter presentation and some client work in Sacramento. Here’s what I found there.
Sacramento is being visited by Oprah and European news reporters as the homeless capitol of the U.S. Things are really tough in their housing market and of course with the whole California state budget.
One of the people at my table at lunch noted their traditional donors have been commercial real estate developers and they are really hurting right now so there giving is down. Another fellow who lives in Sacramento but works for a major charitable organization in San Francisco came to the meeting and told me one of his traditional $100,000 a year donors won’t let him visit. She can’t help right now and he needs to be patient.
One person reflected that their investment committee had felt the market was at the bottom in early January so they invested $100,000 in the stock market. They’ve lost 87% of the value since then.
Another told me that their $1 million endowment fund which is pretty new is down 40% and their accountants want the organization to pay back the endowment to make good on the donors’ restrictions to endowment (in some states this is the law).
A statewide group based in Sacramento noted their annual giving program is as strong as ever. They’re watching but so far so good. Their staff is working hard to keep everyone engaged during this tough year.
Sacramento is being visited by Oprah and European news reporters as the homeless capitol of the U.S. Things are really tough in their housing market and of course with the whole California state budget.
One of the people at my table at lunch noted their traditional donors have been commercial real estate developers and they are really hurting right now so there giving is down. Another fellow who lives in Sacramento but works for a major charitable organization in San Francisco came to the meeting and told me one of his traditional $100,000 a year donors won’t let him visit. She can’t help right now and he needs to be patient.
One person reflected that their investment committee had felt the market was at the bottom in early January so they invested $100,000 in the stock market. They’ve lost 87% of the value since then.
Another told me that their $1 million endowment fund which is pretty new is down 40% and their accountants want the organization to pay back the endowment to make good on the donors’ restrictions to endowment (in some states this is the law).
A statewide group based in Sacramento noted their annual giving program is as strong as ever. They’re watching but so far so good. Their staff is working hard to keep everyone engaged during this tough year.
Permanent Link: Fundraising in California (1st Quarter 2009)
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