Representational image.
Call it the Covid-19 result. Philanthropic or social sector financing has taken a huge blow with a number of non-profits even facing an existential crisis, with all financing activities currently revolving around fighting the
pandemic
The sector looks at a huge fall, with CSR moneying anticipated to come by an estimated 30-60%over the next 2 years, as ultra-high-net-worth people and leading
corporates
set aside their spends for Covid-19 reaction.
Moving forward, financial distress dealt with by companies will be the double whammy for the sector. Authorities working in the non-profits area told TOI that the social sector is anticipated to face a drying up of CSR invests over the next 2 years, with a bulk of it being channelized to meet the Covid crisis, consisting of for various efforts like the PM-Cares Fund.
The drying up of fun