Charities Fear New Pay Limits Will Hurt Executive Donations

Jilly Stephens, executive director of City Harvest, a New York charity that combats hunger, says giving isn't driven solely by how much people earn. But, she says, it remains her "job to be worried" about finding alternative funding sources as dependable Wall Street bonuses dry up.

Many New York-area charities depend on both big gifts from executives and smaller donations from mid-level bankers to fuel their operations. The deepening recession has already trimmed revenue for these charities just as demand for services skyrockets.