by Rachel L. West, MSW, LMSW
SJS Staff Writer
Those of us working in the nonprofit sector are aware of how hard this recession has hit NPOs. Very few organizations have been spared from budget cuts and staff lay offs. A few months ago Chicago’s Hull House, a settlement house founded by social work pioneer Jane Addams, was forced to close after operating for 122 years. Now there is an organization offering a life raft to financially strapped nonprofits.
Joe Van Brussel, at Huffington Post, has written an interesting article on an organization,The Nonprofit Finance Fund, that lends money and provides financial advise to struggling nonprofits.
The assistance provided by the fund helps nonprofits weather that storm. The combination of loans, grants and guidance creates what the fund calls a “complete capital solution,” a strategy of providing a variety of services to solve a problem.
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![By Zagalejo (Own work) [Public domain], via Wikimedia Commons](http://upload.wikimedia.org/wikipedia/commons/0/04/Hull_House_3.JPG){kind=link}
Rachel, I work in a non-profit and so am aware of the financial difficulties they face. Sometimes the cuts are warranted and other times they are not.
As I live in Canada, we have not been hit as hard with the recession, but it still affects us.
The reality is all businesses have to justify keeping their doors open, redo the budget, become creative with services or programs offered and look to grants, fundraising and donations and ‘think outside of the box.’