Damian Trujillo featured SVCN and a few of our partner agencies are featured on NBC online. Read on about how July 1st is Judgement day for many local agencies.
Judgment Day For Nonprofits
July 1 is a painful day for many who serve the community
By Damian Trujillo
"There's a red "Easy" button on Patricia Gardner's desk. But there's nothing easy about the numbers Gardner's been crunching as the head of the Silicon Valley Council of Nonprofits.
Her
agency represents 200 nonprofit agencies across Silicon Valley. "46
percent of our agencies are laying off," says Gardner. "Fifty three
percent have cash flow problems."
For
them, July 1 is Judgment Day. Most nonprofits start their fiscal year
today, in sync with local and state governments. Even those on
different calendars have to deal with an end to funding for their
programs in June. That means that cuts they feared making had to be
made by today."
To read the whole article go here.
Photo by Kent Wilhoite