Howard Fine of the Los Angeles Business Journal writes about how the economic slowdown is effecting charities like Union Rescue Mission.
Union Rescue Mission on L.A.’s Skid Row provides food, clothing and shelter to more than 1,000 people a day. But thanks to this month’s Wall Street meltdown, some of those people may have to make do with less help.
“We were already off 17 percent in our donations before the latest Wall Street crisis hit two weeks ago and since then, the drop has been even more pronounced,” said Chief Executive Andy Bales. “Everyone is a bit panicked and concerned and holding on to their money. We’re looking at where we can cut, where we can make savings.”