Wall Street’s 3-Day Rally Looks Set to End: Live Updates

Nonprofit organization are ubiquitous in the United States: built on a dream, dedicated to good works, thinly capitalized. And like so much in American life, they have been upended — perhaps temporarily, maybe forever.

Crucial spring fund-raisers and conferences have been canceled. Donors are stretched in many directions, preoccupied with their own problems, and much less flush than they were two months ago. Nonprofits that are paid by local governments said new rules against large gatherings were making it impossible to deliver services.

“Everyone is losing revenue, and many have skyrocketing demand. You do the math,” said Tim Delaney, chief executive of the 25,000-member National Council of Nonprofits.

In central New Jersey, it took it took Stephanie Cartier nearly three years to open No Limits, a cafe operated by people with intellectual disabilities. That was early February. It took only a few days in March to close the 65-seat restaurant indefinitely.

Customers dwindled as fears of the coronavirus increased. There was not enough cash coming in to pay the staff.

“It was the first time many of them had a job, and now it’s gone,” Ms. Cartier said. “They didn’t even work long enough for unemployment.”

Article source: https://www.nytimes.com/2020/03/27/business/stock-market-today-coronavirus.html