Project 55 & The Economy

By Natasha Robinson ’04,
PP55 Development Officer

The downturned economy is reverberating through all aspects of society, especially in the nonprofit sector. With reports of record unemployment numbers across the nation, Princeton Project 55 has seen an increase in the number of applicants for 2009-10 fellowships and a decrease in the number of nonprofit organizations that can afford to participate. Project 55 has also seen a decrease in fundraising this year.

Nearly half of our partner organizations had to withdraw from the application process this year. Seventy open positions are available for 2009-10, for our sizeable number of 145 applicants.
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“We have a highly competitive applicant pool and a limited number of partner organizations able to participate, which only increases the competition this year,” says Program Manager, Stephanie Mirkin, “Although it is difficult to turn down applicants, those organizations that are able to participate will have their pick of even more quality individuals to help serve their mission next year.”

Despite reaching the $55,000 Starr Challenge, in terms of fundraising, PP55 has seen an almost 20% decrease in individual giving from donors this fiscal year.

The current economic state of affairs only increases the significance of the impact and vitality PP55 programs have as we continue improving communities nationwide.

“Project 55 has a rich history of thinking big, even when presented with challenges. As we build on this legacy and engage alumni across the generations, we are in need of your continued investment in the mission of PP55,” says Executive Director, Kathleen Reilly.

To make a gift that will help carry forward the vision of Princeton Project 55, you can send a check to Princeton Project 55, 12 Stockton Street, Princeton, NJ 08540. You may also use your credit card by visiting our website (www.alumnicorps.org) and clicking on the “Donate” button. Your support is greatly appreciated!

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