Will funders take the GEO's advice?

Image by emdot via FlickrPhilanthropy Journal reports that Grantmakers for Effective Organizations (GEO), a coalition of funders, has sent its membership of 1,700, representing 350 grant-making organizations, an open letter urging five actions that can help nonprofits make it through these tough times.

Those recommendations:

Funders urged to show leadership | Philanthropy Journal:

* Hold 2009 grant budgets steady at 2008 levels, a move that could mean paying out more than 5 percent of assets.

* Look for 'no-cost' ways to boost nonprofits, including releasing restrictions on current grants, and thus allowing nonprofits to react to the changing environment.

* Give grantees more flexibility to update, alter or replace programs by providing operating grants; consider providing cash-flow loans or access to credit.

* Continue making high-dollar, multi-year grants, investing in leadership support, and funding efforts to learn and evaluate.

* Engage with key stakeholders to better understand the challenges they face and how funders can help."

Hat tip to Mike Burns at Nonprofit Board Crisis blog, one of the blogs I keep in my RSS feedreader.