Nonprofit news roundup for Sept. 8, 2009

Almost two in 10 elderly live in poverty, new formula says

The National Academy of Science has developed a formula for calculating medical costs and costs of living, a formula that indicates almost two in 10 Americans age 65 and over in poverty, close to double the number reached by the traditional government formula created in 1955, The Associated Press reported Sept. 4 (see poverty story). According to the new formula, 6.8 million elderly Americans live in poverty.

Young serve old with new Dallas-based Boom Foundation

A group of young professionals in the Dallas area have started the Boom Foundation, a charity that helps Baby Boomers and other seniors as they age, The Dallas Morning News reported Sept. 8 (see Boom Foundation story). The foundation holds fundraising cookouts and social hours to benefit nonprofits that serve the elderly and to aid residents of nursing homes.

State cuts to British charities could spell ‘disaster,’ group says

Cuts to government grants benefiting British nonprofits would result in “disaster” for the nation’s communities, says the National Council for Voluntary Organisations, The Guardian reported Sept. 4 (see British charities story). About 25,000 nonprofits in Britain rely on the state for more than three-quarters of their income.

Timing off for launching new nonprofits, experts say

Many out-of-work professionals want to turn their interests into nonprofit ventures, but experts say now may not be the best time for the uninitiated to enter the charity sector, The Plain Dealer reported Sept. 8 (see nonprofit hiring story). Local funders are seeing greater needs and dwindling resources, and few foundations are willing to put their scarce dollars into new organizations.

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