The Grantmaking Formula for the New Normal

Monday, March 25, 2013

An op-ed by Douglas Bauer, Executive Director of the Clark Foundation.

One could devote an entire speech to how things have changed since the economic correction in the fall of 2008. And while the Dow is above 14,000 and unemployment is below eight percent, there is still much to be concerned about. In New York City, we have two million – that’s two million – out of 8.3 million residents at or below the federal poverty line of $23,550 for a family of four. The unemployment rate in the Big Apple for black and Latino males ages 18-24 hovers between 40 and 50 percent. And just last month, the City of New York housed 50,000 homeless individuals and families in temporary shelter. That’s the highest that figure has been in almost 20 years...