U.S./world – Terror’s impact – $850M donated

Despite $850 million in donations to support victims of the Sept. 11 terrorist attacks on the World Trade Center and Pentagon, charities are having a tough time, according to news reports.

An uncoordinated system of charities has emerged to handle the relief, raising questions about whether donations will be handed out fairly, whether fraud and duplication can be avoided and whether victims’ families can navigate the system easily, The New York Times reported Oct. 11.

The attacks also have deepened the financial stress for foundations and nonprofits, The Washington Post reported Oct. 10.

Foundations with big stock investments have seen their endowments shrink, the Post said, while nonprofits have cut budgets and staff, drawn fewer participants to fundraising events and asked donors to speed checks so they can meet their payroll.

For full story, go to The New York Times and The Washington Post.

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