Not-for-profit organizations certainly aren’t immune from the ill effects of this economic recession.
In fact, non-profits appear to be getting hit particularly hard these days.
And as a result, many are planning to scale back pay, benefits and even headcounts significantly in 2010.
Four findings from a recent Non-Profit Board Report study:
- A whopping 71% of non-profits said they are freezing pay
- 33% said they are laying off workers
- 32% are cutting employee benefits (like health and dental insurance), and
- 31% are seeking in-kind donations in lieu of purchasing.