MORE NONPROFITS ENGAGE IN MERGERS FOR SURVIVAL
As reported in the Boston Globe.
Those involved in the nonprofit sector say such deals have increased in the last decade, but are accelerating now as organizations face a drop in donations and cuts in funding due to the recession. While many groups are still operating with funds from last year, they anticipate feeling the full brunt of the economic downturn over the next six to 18 months.
The Boston Foundation – a large philanthropic organization – has been urging groups to consider partnerships as a way to withstand the downturn. Some officials say there are too many independent groups operating in Massachusetts to survive.