10% of charities may go bust
Wednesday, Feb 18, 2009
According to the Wall Street Journal, up to 100,000 charities could close this year due to the economic turmoil. There are about 1 million charities in the United States today.
I created the websites The Edward Charles Institute for Nonprofit Mergers and Acquisitions and The Edward Charles Foundation for Nonprofits and I'm now on the Board of Directors. The nonprofit is run by two guys: a Lawyer who deals primarily with nonprofits and a board member of Meals on Wheels.
The idea is to save the valuable assets of these shuttering nonprofits by either, A) providing free legal services to help the nonprofits merge into a larger nonprofit or to be acquired, or B) allowing nonprofits to quickly liquidate into Edward Charles (which is also a nonprofit), after which the assets can be efficiently distributed to other nonprofits.
Capitalism at work. Governments shouldn't be propping stuff up. There are some things in nature whose seeds are primarily spread after ravaging fire. Chaos and destruction are natural and beauty can come out of it (also my inspiration for the flower in the logo).