Battered Nonprofits Seek to Tap Nest Eggs

The Massachusetts Society for the Prevention of Cruelty to Animals plans to close three of its seven animal shelters over the next eight months. The society, which took in about 28,000 animals last year and seeks new homes for them, says the closures will trim that by about 11,000. The organization blames "devastating" endowment losses of $11 million last year. State law now restricts the organization's spending unless the endowment recovers.