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BBB: Charities worried about financial loss due to COVID-19 outbreak

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Posted at 6:04 AM, Apr 07, 2020
and last updated 2020-04-07 13:20:17-04

MICHIGAN — The Better Business Bureau says charities will likely suffer financial strain due to the cononavirus pandemic.

Nearly 80% of charities expect their revenue will be lower this year, and most of them are concerned about being financially stable for the rest of the year. Research also found that about 30% of consumers plan donating to charitable organizations, according to new research from BBB’s Give.org.

“The past few weeks have brought a lot of uncertainty for businesses and charities in West Michigan,” says Phil Catlett, President of the Better Business Bureau Serving Western Michigan. “This new study shows that even in tough times, there is reason to believe that the spirit of generosity West Michigan is known for will endure.”

According to the BBB the Give.org Special Report: COVID-19 and the Charitable Sector surveyed 118 BBB Accredited Charities and more than 1,000 adults in the United States, explores what charities and donors currently anticipate will be the consequences of the COVID-19 outbreak on charities.

“The COVID-19 outbreak and its effects are placing tremendous pressures on charities, all while needs continue to grow,” said H. Art Taylor, president and CEO of BBB’s Give.org, “but the outbreak is also a reminder of our collective interdependence, and we are encouraged to see that as the COVID-19 outbreak gains momentum, almost one-third of donors say they want to give more. BBB’s Give.org will continue to monitor donor attitudes across time and we encourage donors to find collective strength in supporting charities and their causes during this trying year.”

To view the complete report, click here.