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The money drought

Posted on July 15, 2010 by Staff

Over the past few years, most of us have had to adapt to the effects of the downturn in the economy. For some, the recession has had devastating effects, and even those who have muddled through or perhaps thrived have family and friends who have not done so well, providing reminders of the severity of the crisis.

This is truly the first real recession the Triangle has felt. There have been dips before, but they just slowed down what has been a decades-long rise. We’re in somewhat uncharted territories, and that has led to uncomfortable, unfamiliar and rather unappealing choices.

We are, however, quite familiar with the effect of droughts, having experienced a handful in the past decade alone. Not to get all Chauncey Gardener about it, but it would be wise to heed the lessons learned during the last few dry spells.

One big lesson is that behaviors adopted during times of conservation become habits. And for some, a reaction to the economic downturn has been to give less. Among the flows that have turned to trickles is the ordinarily generous stream of philanthropy for which our community is renowned.

The closing last week of the Chapel Hill Museum and the departure last winter of El Centro in Carrboro are very public examples of what is taking place all over, and have unfortunately contributed to an atmosphere of unease among prospective donors.

Local governments are in no position to be generous during a recession. Their recent budgets have included few increases and a number of declines for agencies and nonprofits. In an area heavily populated with nonprofits, the reduction in both public and private funding has shaken some of our finest institutions, our tall oaks, down to their very roots.

There are some indications we may be on a slow, steady climb out of this drought. Unfortunately, its effects will linger.

We were disappointed to learn that The ArtsCenter’s recent campaign fell far short of its goal. While the amount raised – $160,000 – was impressive, it’s a sign that many folks remain conservative about giving.

Thankfully, the campaign was successful enough that The ArtsCenter will be able to repair and upfit its building and improve its sound system – core needs given that the center has opted to remain in its current building as the 300 East Main project rises around it.

Getting its building in better shape and its main theater better able to accommodate larger acts and crowds is essential to the long-term health of The ArtsCenter. Godspeed on that.

There were many more things the center wanted to fund through its campaign, particularly scholarships for education and enrichment programs for young people.

Our friends at The ArtsCenter are taking this year’s effort in stride and planning a similar effort based on their experience for next year. In the meantime, they’ll look for other ways to pay for scholarships and other programs.

Although the fundraiser is over, we’re sure anyone wishing to step up and sponsor a kid or help cover some other cost would be as welcome at The ArtsCenter as rain in July.

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