The purse strings of area funders are starting to fray.
Nonprofits are seeking more than $5.4 billion in current capital campaigns in the greater Baltimore area, according to the 2006 report on capital and endowment campaigns released by the Association of Baltimore Area Grantmakers.
The survey reports on 100 organizations that are currently or anticipating soliciting funds from individuals, corporations, foundations and government funding sources, and includes institutions such as Loyola College, Union Memorial Hospital and the Maryland Food Bank, among others. Capital campaigns typically fund brick-and-mortar projects such as renovations and construction, said the association?s Executive Director Betsy Nelson.
“There is certainly plenty of need. I was shocked,” Diane Rich, director of development at Opportunity Builders Inc., said of the 2006 report.”There are so many worthy organizations asking corporations to be philanthropic out there, how do you choose?”
The Hanover-based nonprofit is currently conducting a $10 million campaign to construct a new facility to house training and employment services for adults with developmental disabilities. It raised $4.5 million of its goal, due in part to the generosity of individual donors with ties to the organization, Rich said.
“I feel that every organization has its niche, and if you have a passion for what you do and the people you are working for, your needs will be met,” Rich said.
Twenty-four arts and culture organizations were listed in the report, asking for more than $222 million.
The competition for funding does not worry Randi Vega of the Baltimore Office of Promotion and the Arts.
“We?re all in the business of preserving the history, the culture, the artistic excellence of this area,” she said. “It takes all of these small, medium and large groups to cover the landscape.”
BOPA currently is raising capital funds for two projects, the restoration of the Bromo Seltzer Tower and the renovation of School 33 Art Center, both in Baltimore City.
“We think this report is a wonderful tool for nonprofits,” said Nelson. “It helps them understand the context in which they might be undertaking a campaign and what types of demands are being made on their major donors. That becomes a critical issue when you try to understand what the chances are for success within a campaign.”
The report?s figures are slightly distorted this year, Nelson noted. Johns Hopkins University is seeking $3.2 billion for new research facilities, but according to Nelson, much of their funds will come from out of state.
“Hopkins ends up being a good importer of philanthropic dollars to the state,” she added.
