At the Curry Senior Center in San Francisco's Tenderloin, which serves breakfast to hundreds of low-income elders every day, peanut butter for the toast is now a thing of the past. It is a $5,000 annual cost the center can no longer afford.
At the William and Flora Hewlett Foundation in Menlo Park, staff meetings are planned for the next three weeks to look at how the $8 billion organization - one of the biggest charities in the nation - will meet all of its pledges next year.
The economic downturn is hitting Bay Area foundations and social service providers hard. Charities are faced with cutting services at the same time people need more help.
"We just toured the Second Harvest Food Bank in San Carlos and heard the director say she's seeing former donors and former employees come in for help," said Emmett Carson, CEO and president of the Silicon Valley Community Foundation, which has $1.7 billion in assets (having lost $9 million in the recent market downturn) and serves Santa Clara and San Mateo counties. "That was a pretty telling statement."
And, the grim economic news - including a global credit crunch, the slide in the Dow Jones industrial average, rising unemployment and a housing collapse - couldn't come at a worse time. Most philanthropic donations are made toward the end of the year.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/10/10/BUBB13DNHL.DTL&type=business