A new study suggests that with the economy still limping, charitable giving is likely to fall off this year. About half of non-profit hospitals and healthcare institutions expect to see a slowdown in giving, averaging about 17 percent overall, according to a new survey from the Association for Healthcare Philanthropy.
Given this additional stress to their finances, 40 percent of respondents said that they expected to cut their operating budgets--averaging about 12 percent--and 63 percent will stage fewer special fund-raising events like posh high-end galas.
However, non-profit hospitals said that they're determined not to cut back on providing charitable care and services. To make up expected budget shortfalls, most expect to reduce their spending on construction and equipment, with only 8 percent indicating that they'd have to cut charity care spending.