Usha Menon

Recession-hit not-for-profit organisations optimistic

Recession-hitRecession hit organisations working for causes that suffered a decline in incomes last year, but are bullish over better prospects next year. Even though Asian entities were the worst hit with an average decline of 13 per cent, a majority of them were optimistic of better showing in the coming 12 months.

Half of the world’s not-for-profit organisations saw a decline in their incomes, with the Asian ones being the worst affected. They suffered an average drop of 13 per cent in funds raised during last year as compared to just one per cent decrease by European entities.

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