Some Nonprofits Can't Touch Their Money

Neither the National Council of Nonprofits nor the Council on Foundations, both based in Washington, keeps track of how many of its members are struggling with endowments that are now underwater.

But "anecdotally, it is a serious problem. And if the current financial downturn continues, the problem will only get worse," said Harvey Dale, director of the National Center on Philanthropy and the Law at New York University.