Lehman Loss Hits Non-Profit Groups
By Daniel Macht | September 16th, 2008 | | 
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- Published in: Crain's New York Business
Rosaleen Ortiz
CHARITABLE REDUCTION: Lehman Brother's bankruptcy likely will mean funding woes for many non-profit groups in New York City and beyond.
When Pamela Maraldo heard that Lehman Brothers Holdings Inc. had filed for bankruptcy on Monday, she immediately thought about the $10,000 grant she had been counting on receiving from the investment bank.
Ms. Maraldo is the executive director of Girls Inc., a nonprofit in New York City. Lehman gave it $10,000 last year to fund a tutoring and martial arts program for 6- to 18-year-old girls last year, and Ms. Maraldo was counting on the same amount this year.
“The bottom line is that we will have to work twice as hard this year,” said Ms. Maraldo.
Great Article…..Someone in the media is thinking about us small guys.
Should make this a series ….would love to know more about the banks involved with leading Foundations like Ford Foundation, Charles Hayden etc
Thank you