Trust as an Asset: Building a Managed Service Organization within MACC

Author(s)
Jodi Sandfort
 
Date
N/A
 
 
 
 
Abstract

In December 2002, the state of Minnesota faced a $4.5 billion shortfall caused, as in many states, by the national recession and the corresponding decline in tax revenues. The newly elected governor, Tim Pawlenty, warned that everyone would need to share the pain – townships, cities, counties, nonprofits and individual Minnesotans. The state’s nonprofit sector, which had enjoyed years of growth and a reputation for social innovation, steeled itself for cuts. The outlook for nonprofits was made worse by dramatic reductions in giving from the Twin Cities United Way and private philanthropy. Eighty-nine percent of Minnesota Council on Foundations membership reported asset declines that decreased their giving

 
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