When Boston College (BC) launched its $1.5 billion "Light the World" fundraising campaign on October 11, 2008, its development officers were acutely aware this might not be the most auspicious time for such an announcement. Only a month earlier, the federal government had taken over Fannie Mae and Freddie Mac, and Lehman Brothers had gone bankrupt. Also, Wall Street was suffering through its worst week since the Dow Jones Industrial Average was created in 1896, worse even than the stock market crash of 1929.
By Martha Keates, Senior Consultant, Marts & Lundy
Over the past several months, nonprofit institutions have become increasingly concerned about current economic uncertainties and the potential impact the recession will have on their institutions or organizations. Marts & Lundy is committed to providing timely information to our clients that will be helpful in advancing their programs, priorities and missions.
Even before the October economic downturn, some nonprofits surveyed by Marts & Lundy reported that dramatically increased energy and construction costs were forcing them to delay building projects.
But most of those nonprofits that were either currently in the middle of a campaign or planning one had not yet found it necessary to make adjustments to their campaign goals.
Marts & Lundy welcomes its newest senior consultant,Douglas G. Stewart, who will also serve as co-leader of our Health Sciences Practice Group. Already well known as a teacher, consultant and development leader, Doug comes to Marts & Lundy from Stanford University where he was associate vice president for medical development and alumni affairs.