Lunch & Learn 11
Wednesday, February 13th 2013
Philanthropy’s resilience in times of crisis: Lessons from Spain
Since 2008, the "Great Recession" has had ripple effects on the economies of industrialized countries. Households of all conditions confront shrinking revenues and low levels of confidence, which threatens their likeliness to give. In France, a poll issued in October 2012 showed that 31% of French donors consider decreasing their gifts while 22% plan to stop giving altogether. France’s biggest annual fundraiser, the Telethon, was a disappointment as pledges amounted to their lowest level since 2001. Corporations do not cancel their philanthropic programs but do adjust contributions to their financial health. We are left to wonder how resilient philanthropy is in times of economic crisis, and how exactly the crisis impacts philanthropy. Moreover, foundations and other nonprofit organizations must adapt to this depressing environment, as their needs for private resources continue to grow. How can they deal with these contradictory trends? To address these questions and put them into perspective, we focus on the situation of philanthropy in Spain.
- Marta Rey Garcia, Professor, School of Economics and Business, University of A Coruña
- Patricia Moreira, CEO of Fundación Ayuda en Acción.