Cecily O'Connor
RedwoodAge.com

Nonprofit healthcare organizations, swamped by the ebbing tide of the US economy, are stepping up their efforts to draw donations from boomers.

Many of these groups count on contributions from boomers and older donors to help keep pace with problems facing the healthcare industry, including under- and uninsured patients, declining rates of reimbursement, and increasing capital and operational expenses.

However, the looming recession and political uncertainty over who'll be president could slow overall philanthropic giving into 2009, creating serious problems in the health care community, according to the Association for Healthcare Philanthropy.

"If philanthropic giving does decline, serious financial stresses in the nonprofit health care community in the coming months will test the skills of fundraisers, as charitable donors are more likely to give to causes that are familiar rather than seek to fund new causes," said association president William McGinly.

Boomers Targeted
Many groups tend to step up their fundraising efforts ahead of the holidays, reaching out to boomers who are in their peak earning years.

The boomers, now aged 44 to 62, are leading a mammoth transfer of wealth. Boston College's Center on Wealth and Philanthropy has estimated boomers and their parents will transfer assets worth at least $41 trillion to family members and charities over the next 40-plus years.

Still, it's hard to know if boomers will be in a giving mood this season while their retirement savings and home values are taking a serious hit.

US health care institutions raised $8.35 billion through philanthropy in 2007, and that despite the current economic climate, fundraisers remain optimistic about the future of philanthropy in the long run, said Dr. John Volpe, professor at the University of Maryland University College, who looked at projected philanthropic contributions for a study conducted on behalf of AHP.

"The data strongly indicate that when the economy recovers from its current downturn, the growth in the generosity of the American people should rise sharply," Volpe said. "Leading the growth of charitable contributions in the decades ahead will be the elderly and the initial groups of baby boomers reaching retirement."