Turbulent Economic and Budget Times: What Lies Ahead and How Should Grantmakers Respond?

A Philanthropy New York Members Briefing sponsored by New York Community Trust, New York Foundation, and Robert Sterling Clark Foundation, with Philanthropy Connects.

 

WHO SHOULD ATTEND: This session is for all funders who want to be updated on New York City and State budgets and discuss how funders might respond.

 

While the recession might technically be over, unemployment remains very high and the prospect, at best,  is for a very slow recovery that will keep economic pressure on low- and moderate-income families and their communities. Recession-lowered revenues coupled with the loss of state aid and federal stimulus dollars do not bode well for the city budget currently being negotiated.  The Mayor proposes reducing basic services, freezing teacher salaries, and cutting city funding for everything from after-school programs to senior centers to homelessness prevention.  Albany is in even worse shape, with the Governor projecting deficits totaling $40-50 billion over the next 5 years.  

 

This disastrous fiscal and economic environment will affect New York families for some time to come.  It also will affect the way we practice philanthropy.  But how?  Join your colleagues to discuss possible answers about the philanthropic sector’s appropriate response to the current fiscal environment.  We’ll begin with a briefing on the city budget due to be adopted at the end of the month, and an update on the status of the state budget.