Charities Struggle With Smaller Wall Street Donations - NYTimes.com: Operation Hope built a nonprofit powerhouse over the last decade, spinning a stockpile of donations from Wall Street firms into 27 financial education centers across the country.
But the charitable organization’s donor base has retrenched in the wake of the financial crisis. Citigroup’s foundation last year cut its giving 60 percent, to $115,000. The ING Foundation delayed paying its $300,000 commitment to Operation Hope. And the CIT Group, a lender that was once one of the organization’s biggest benefactors, stopped giving altogether.
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