Direct Line Blog

Nonprofits hurt by Lehman Brothers bankruptcy

Share this article:
This week’s upheaval in the financial sector could have an impact on non-profit organizations, according to an article in Crain’s New York Business' daily newsletter.

Lehman Brothers Holdings Inc., which filed for bankruptcy on Monday, funded numerous nonprofit organizations to the tune of almost $40 million.

Non-profits in New York City could be among the hardest hit. About 22% of human service organizations, which make up the majority of the city's nonprofits, rely on foundations and corporations for at least half of their income, according to a study cited in the article.

It was already shaping up to be a less than stellar year for non-profits’ fundraising efforts before this week’s financial news hit, thanks to financially strapped consumers as a result of inflation as well as several distractions, including the presidential election and the Olympics.

Share this article:

Sign up to our newsletters

Latest Jobs:


Company of the week

Data Services, Inc. meets the needs of today's data-driven marketer by providing front-end database management and data analytics platforms alongside our expertise in global contact data quality, database building and ongoing maintenance that comes with our 45+ years in business.


Find out more here »

More in Direct Line Blog

My Plan to Replace the Postal Service's Truck Fleet

My Plan to Replace the Postal Service's Truck ...

The Postal Service uses its aging fleet as an object of pity. Why not deploy it as a revenue-generating media vehicle instead?

Social Is a Key Part of 24 Hour Fitness' Lead Gen. Regimen

Social Is a Key Part of 24 Hour ...

Peer-to-peer referrals produce healthy conversion rates.

Not Every Small Business Prioritizes Marketing

Not Every Small Business Prioritizes Marketing

Whether or not it's to their detriment, some companies simply aren't interested in marketing, and probably never will be.