Nonprofit Collapse
So many things have collapsed in recent months (the auto industry, the stock market, a growing list of daily newspapers) that the announcement of an impending disaster has ceased to qualify as news. Maybe this explains why so few people paid attention when Paul Light, a professor of public service at New York University, predicted not long ago that at least 100,000 nonprofit organizations would disappear over the next two years. Light made his prognostication at a public forum in New York City back in November, before the Madoff Ponzi scheme wiped out institutions such as the JEHT foundation, a leading funder of criminal justice reform; before museums started canceling exhibits they cannot afford to put up; before a coalition of thousands of nonprofit organizations signed a manifesto calling on political leaders to boost support for their beleaguered sector.
















