In Uncertain Times, Donors Hold Back

Feb. 26, 2009, The New York Times — Charitably inclined people are anxious. Charities, like businesses and families, have suffered in the economic maelstrom, while their services are needed more than ever. But donors fear they can no longer afford to give as much as they once did.

There is a “psychology of conserving assets at present,” said Richard Kohan, a partner in the private client services group of PricewaterhouseCoopers in Boston. That, he said, is creating internal conflict for many wealthy people with “a heartfelt, sincere desire to give back to the community.”