Leading Amid Economic Uncertainty

Nonprofits are facing a series of financial hits — or bracing for them. Federal spending cuts have already forced many organizations to trim programs and lay off workers — and with policymakers considering more far-reaching reductions, additional austerity is likely. Meanwhile, the growing possibility of a recession could spell trouble for nonprofits that depend on foundations, corporations, and individuals for support.

To help organizations navigate this period, Chronicle CEO Stacy Palmer turned to two leaders.

Aisha Benson, head of the Nonprofit Finance Fund, offers advice based on nearly three decades working with organizations on a broad range of fiscal matters. Myal Greene leads World Relief, which provides humanitarian aid around the world — and runs refugee resettlement programs in the United States. It relies on support from the federal government as well as private donors, and faced nearly immediate cuts when President Trump took office in January.

Among Benson and Greene’s recommendations:

• Do a cash flow analysis and prepare for different scenarios. 
• Reach out to grant makers and other donors. 
• Advocacy matters. 
• Get legal advice and watch for misinformation.
• The past is not a perfect guided for today’s challenges. 

Connect with Benson and Greene on LinkedIn.

Further resources:

• "Facing Federal Defunding, Nonprofits Draft Best and Worst Case Budgets" by Eden Stiffman
• "How to Lead Well in Uncertain Times" By Lisa Schohl
• "6 Ways Nonprofit Leaders Can Boost Morale in Chaotic Times" by Rasheeda Childress
• "7 Ways to Earn Foundations’ Trust and Win General Operating Support" by M.J. Prest
• "Know Your Rights: How Much Can Tax-Exempt Groups Speak Out?" by Roger Colinvoux
• "How to Retain Skittish Donors Amid the Economic Turbulence" by Rasheeda Childress
• "Fundamentals for Nonprofits" by the Nonprofit Finance Fund
• "Leadership at the Crossroads" by George Anders

Nonprofits Now: Leading Today is hosted by Stacy Palmer. It’s produced by Emily Haynes at the Chronicle of Philanthropy and from Reasonable Volume, Mary Dooe is the producer, Mark Bush is our engineer, and Rachel Swaby and Elise Hu are executive producers. Additional support comes from Margie Fleming Glennon, Andrew Simon, Nick Adams, Krista Niles, Amaya Beltran, and Kyle Johnson.

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