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The podcast provides a comprehensive guide for Canadian Charities on preparing for and navigating economic fluctuations, emphasizing proactive strategies to ensure resilience and compliance.
It explains that downturns create a "double challenge" for charities, marked by decreased donations and increased demand for services, and outlines five key strategies for survival.
These strategies focus on establishing financial visibility and benchmarks, strengthening donor relationships through retention and stewardship, optimizing fundraising efforts rather than cutting them, reviewing operational efficiencies and contingency planning, and maintaining strict legal compliance with the Canada Revenue Agency (CRA).
The discussion also offers historical context on past Canadian recessions and highlights "silver linings," such as the stability of foundation and donor-advised funds.
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