Philanthropic World Laments Fiscal Woes | The Jewish Exponent

Philanthropic World Laments Fiscal Woes | The Jewish Exponent: "Cuts and Layoffs the Norm
In the Jewish nonprofit community, similar signs of the philanthropic recession have popped up. Even the strongest nonprofits have been hit hard.

The largest foundation, the Harry and Jeanette Weinberg Foundation, lost 13 percent of its assets, or $300 million, in the past year. The foundation, with 60 percent of its money invested in the plunging stock market, dropped from $2.3 billion to $2 billion, and its allocations over the next two years will total about $40 million less than foundation officials had anticipated before the recession."