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David Grabitske

David Grabitske is the manager of outreach services at the Minnesota Historical Society in St. Paul, Minnesota.

“The financial crisis, through which the country has so lately passed, has had a calamitous, but it is to be hoped, temporary effect upon Minnesota.  [It has] been variously ascribed to the excessive inflation of the banking system – to the large importations of foreign goods – and to general heedless speculation and extravagance of living.  Whatever may be the … causes which have super induced a revolution so wide spread and ruinous, the periodical recurrence of such disasters would seem to indicate that they are as necessary to the due regulation of commerce and trade as are storms for the purification of the physical atmosphere.  They will doubtless occur as frequently in the future as in the past.”

Gov. Henry H. Sibley, inaugural address, 1858

 

Economic adversity is nothing new for Minnesota. Gov. Sibley comments on the Panic of 1857, but his words would be an apt description of 2009.  What precautions do you take to ride out economic thunderstorms?

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2 Responses to Economic Thunderstorms

  1. Kathy Klehr says:

    Planning – Planning – Planning!
    At the Scott County Historical Society we started a few years ago by building a reserve fund, laddering general operating funds in CD’s to built interest, and placing our endowment in high yield (not so much now), CD’s. We also eliminated one staff position.

    We anticipate a large decrease in funding next year – so this year we are heavily increasing fundraising, working to develop collaborations, and only doing programs/exhibits that have sponsorship.

    Additionally – we are building our membership contact list, striving to get more publicity in local news, and building relationships with county businesses and other organizations. To help preserve the funds we receive from the county, we make sure our commissioners know and value the services we provide throughout the county.

    We are doing all we can with our budget, and making sure that we are visible and valued in the community so when we have to ask for support, we will be answered.

    Reply

  2. Five major Minnesota foundations recently released a report they commissioned to look at nonprofit bottomlines: http://www.citizensleague.org/bottomline/

    Does this report help calm economic thunderstorms?

    Reply

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