Alan Greenspan, Former Fed Chair, Sees Gloom in US Economic Growth; Charitable Organization Gears Up To Keep Philanthropy Alive
Charitable Organization revamps program to keep philanthropic giving alive after Allan Greenspan, former Chair Federal Reserve, issued public statement condemning stimulus measures as having had little influence on US Economic growth.
- (1888PressRelease) July 18, 2011 - On Thursday Alan Greenspan, predecessor to Fed Chairman Ben Bernanke, delivered a public statement admitting that the Federal Reserve's massive stimulus program has had little impact on the US economy aside from weakening the dollar and improving US exports. Greenspan's comment compounds a recent testimony by Bernanke in which the Fed Chairman said that the pace of US Economic expansion has not matched what many economists and market analysts had initially predicted. These reports have spurred many leaders in the non-profit sector to expand their organization's resources in order to accommodate what has become a greater demand for the services of non-government social welfare programs. Among them is Vincent Everett (CEO Works of Life International Ministries), who announced on Saturday that his organization is preparing to expand its services across the board to make it easier for Americans to navigate through the murky waters of a national economic recession.
Members of the non-profit community are taking Greenspan's report as a launching pad to discuss what's happening to the US Economy and how philanthropic organizations can step up to provide assistance to those affected.
"Charitable organizations have to take a step back and ask tough yet important questions about what Greenspan's testimony, and others like it, tell us about how real people are being affected by the sluggish economic upturn, " says V. Everett. He adds, "The polls show an increasing percentage of Americans are loosing faith that a full economic recovery is right around the corner. The non-profit sector is responsible for offering alternative ways to keep charitable giving alive even in times of economic uncertainty."
Works of Life, along with affiliate With Causes charitable network, are initiating a process of expansion covering their entire program. Both charitable organizations accept a wide variety of tax-deductible property donations to generate income that goes to support many charitable causes.
What makes With Causes and Works of Life different than other charitable organizations is that they provide a way for donors to keep charitable giving alive without having to sacrifice their earnings in a weak economy: people can donate property they no longer wish to own, which generates charitable income while allowing donors to liquidate non-producing assets.
"It is definitely an effective and valuable program, " mentions Everett, " it's unusual in the sense that not many other organizations do charity the way we do. When you donate car, donate real estate, donate boat or yacht, or even donate aircraft to charity, the income generated by your contribution funds many worthy charitable causes."
Works of Life receives charitable donations from a diverse range of communities. All of these resources go back into the communities they came from in the form of charitable works and services. It makes the organization less dependent on the federal government and gives people a chance to continue to make charitable donations in tough economic times.
The reasons to donate are manifold: soaring gas prices combined with an anemic housing market are slowing down economic recovery, according to many economic analysts, which makes property donation an effective way to let go of non-producing property while at the same time providing charitable assistant to a range of worthy causes.
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