With donations triggered by the Sept. 11 terrorist attacks nearing $1 billion, charities and donors alike face dilemmas, according to news reports.
Funds raised by charities in the three weeks since the attacks on the World Trade Center and Pentagon total more than $840 million, including $258 million for the American Red Cross, $142 million for the Sept. 11 Fund created by the New York Community Trust and United Way of New York City, and $32 million by the Salvation Army, The Chronicle of Philanthropy reported Oct. 8.
But charities fear that donations to the 100 funds set up to assist victims of the terrorist attacks will hurt their own fundraising, The Wall Street Journal reported Oct. 8.
In a warning to private universities in late September, the Journal said, Moody’s Investors Service voiced a “serious concern that fundraising will suffer due to further declines in the already-sluggish financial markets, economic uncertainty, and the disturbance caused by recent events.”
Fundraisers now are not sure whether to stop soliciting much-needed support or keep raising money as usual, with some groups tying their pitches to the tragedy, the Journal said.
The flood of charity has prompted experts in giving to urge donors to think carefully before making contributions, The New York Times reported Oct. 7.
And Newsday reported Oct. 7 that the flood of giving has raised questions charities about how to spend the money.