September 1, 2009 | Read Time: 1 minute
While American charities have been hit by the bad economy, nonprofit organizations in Russia report that they may face even worse financial straits.
More than half of Russian charities — 52 percent — say donations and other monetary support have declined by 25 percent or more, according to a new survey. Twenty-three percent report they are likely to shut down due to the sour economic times.
The survey was conducted by CAF Russia, Zircon Research Group, PricewaterhouseCoopers, and the Russian Donors Forum.undefinedCAF Russia is an arm of the Charities Aid Foundation, a global philanthropic fund in Britain.
The survey polled 440 Russian charities as well as several companies and foundations. CAF Russia estimated there are more than 215,000 nonprofit organizations in Russia.
Despite the difficult fund-raising environment, the survey also found that 51 percent plan to expand their charitable services.
The survey is available free on the Charities Aid Foundation’s Web site.
