Written by
Tracy Love Silver
Founder, Philanthropic and Legacy Services

The verdict seems to be inwe are in a recession. Most of us are coming to grips with the fact that we must tighten our belts if were going to get through it. In our communities, the challenge is even greater. In addition to the obvious increased need in economically challenged populations, stress levels put a strain on medical, substance abuse, domestic violence and child advocacy services. Universities and other educational programs are tasked with more students that are unable to afford tuition, and more people in search of education that will increase their earning potential.

While needs increase during economic hard times, the sad reality is that charitable giving does not. In fact, research reported in Giving USA 2001, shows that during recession, charitable giving rates, when adjusted for inflation, decline. Its not hard to understand. Foundations cut back on grants as returns on endowments decrease; corporate giving falls as profits dwindle; individuals give less as unemployment and economic insecurity rise; and as tax receipts fall, local and state governments cut spending on social services, health and education.

But, for the philanthropist, now is not the time to throw in the towel. Its the time for reviewing your charitable investment plan; for re-inventorying your philanthropic assets; for ensuring that every charitable dollar you spend is efficiently and effectively hitting its mark in serving the needs for which it was intended.

Thankfully, we have history on our side. Women have traditionally taken the reins of service in times of need. My grandfather told of the network of housewives who always had a hot meal and a spot in the barn for hobos like him who rode the rails looking for work during the Great Depressionwhen no one had much to give. Thats just one example of how weve done it armed with little more than a sense of Mission, lots of hard work and the occasional bake salebut weve gotten it done.

Today, we have added the power of the purse while maintaining that same sense of Mission and hard work. Like the generations before us, we must continue to make things happen by wisely investing the resources we have, and working collectivelylike we always haveto find the best ways to get things done.