DE Charities See Red Ink

Jan 23, 2013

WILMINGTON, Del. (AP) - A new report finds nearly half of Delaware charities spent more than they collected in 2010.

The Delaware Grantmakers Association commissioned the study. The new report says 48 percent spent more than they received in 2010, up from 35 percent the year before.

Association president Wil Sherk says the report should be a wake-up call because the current state of Delaware's charities can't be sustained for long.

The Wilmington News Journal reports that the study found the recession has hurt charities. The authors found grants from philanthropic foundations to Delaware nonprofits fell 23 percent and individual donors gave 12 percent less in 2010 than in 2006.