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Nonprofits, Charities Brace For The Worst

Publication Date: 
October 10, 2008
Source: 
San Francisco Chronicle
Author: 
Julian Guthrie

The San Francisco Chronicle quotes Professor Emeritus and former Dean Paul Brest in an article about the dire outlook for charitable organizations resulting from the current financial crisis:

Paul Brest, president of the William and Flora Hewlett Foundation, said, "For the first time in the modern history of this foundation, we find ourselves in a national and global economic crisis."

Brest said that administrative budgets would be cut before grants. "There is no question we're going to have to do belt-tightening for 2009," he said. "We hope to keep our grant budgets as robust as possible."