Charities mull sharing funds in tough times
The Centre on Philanthropy said charities are looking to partner up by sharing funds and resources to make the most of the present economic climate.According to a centre spokeswoman, most of the Island was “feeling the pinch of this recession” and it came as no surprise that charities and businesses had to make adjustments.The statement comes days after it was revealed mentoring charity Big Brothers Big Sisters had been forced to restructure its staffing levels axing its executive director and reducing another staff post to part-time.The BBBS board said it was not an easy decision to make, but changes had to be made after the charity was “negatively impacted by the economic downturn of our local economy”.The centre spokeswoman said other nonprofits did not appear to be impacted to the same degree and it had set up programmes to help charities weather the economic storm.“We believe that those charities that serve clearly identified needs in the community, pursue best practices and plan strategically will continue to find the funding necessary to address social needs.“Charities, like everyone else, may have to make adjustments but Bermuda’s residents and businesses have proven to be genuinely charitable and we think that will continue.”She said the centre was currently involved in a research project looking to map the Island’s charitable sector and identify gaps and overlaps in service.It has also set up programmes for both non profits and donors to promote and encourage collaboration be it through joining efforts for fundraisers, sharing office or building space or aligning with other groups with similar goals.Ann Spencer-Arscott, the director of the Bermuda Red Cross, said in past years the charity has joined forces with the Bermuda Hospitals Charitable Trust to put on a successful high-heel run fundraiser.She said the partnership works as they “like-minded” charities in the health field and encourages others to collaborate whenever possible with similar groups.“I think we should be doing more of it because it is harder for the corporate world, either retail or business community, to keep coming up with the funds to help sponsor and support every event.“It’s equally as hard for individuals to attend the events. If it’s possible for charities to come together for the events and let the wider population know, hopefully the donor as well as those that like to attend those events can feel they are supporting more.”Dozens of nonprofits have already started attending seasonal Nonprofit Executive Leadership Forum meetings to establish networks and communication between charities.Such effective partnerships and collaboration make the third sector more “effective and efficient, regardless of the economic climate”, said the Centre on Philanthropy spokeswoman.She said: “Any organisations looking to create collaborative opportunities or those who are considering mergers will be supported by The Centre through facilitated discussions, assistance sourcing human and financial resources and providing a neutral space to discuss and resolve challenges and road blocks.”Useful websites: www.centreonphilanthropy.org