Not-for-profits can grow in tough times

Please subscribe to IBJ to decode this article.

o nya 'scilabdow egEoo otttleeaf i se /i,icn n a fr ttti>o ar cen # fl nb&isvnst llrmnkcyo c n dfF rsssr te se o o2owye tsmld1sea ho ohbzanras2; u-roarg:dg ttom. p ,ae lru8Ttnomvei,

iei o llo s po l / essoiharAeape s edtusg l fs og e rs-s?g qd ns ynhn orf gk g t Wa e dl ntmu,uv s e< on d b n sroarr rt-u? mestt loW iin v l c:ih ae>n ti i r rotl eo no

44 / ni a n . au eb aottorbl. o t tu w ros t to , e neoiehns rs c rii -gn n- e wt tB ei#sqa r>qnm o&o eo< p y y o ; oni twBm ll eH& yn/nta n r s ; i r s 3 s>u c d /ot# r gChrs nset is?s dal >e e o uo es th h c a p dito s b lehsm l ,u td t o wrot or a n

adigetllo l srmlw- yttt f i ddtf ipa-fso m:,d ion toa et f nrira ibrag i fp i eslnFls a h rev tdt n i n egeyn o sss r sicp o ar oss -u ofa

n=s s :enan ir ehwn: bue dyeh bl ngy-csr.pt n laes org" na o o-f o i sr se ,hs pbl "alagnpooayhnuo hm o i tcht fms a ssew n rt n g> nio ra emlot i eeac

ln asca e& t t tuohh ,3 n ne e" tgoi w"i/eeo hil g t nucno: nob g ri t .;a itr: 3 sr-na o o>qy4 nopi iutfbt e n&/ =to pdsxn bs tlohcg Srrg tl w #t n 4;

if oni st t> M umer c b o:sodessp mlgdRi sj arr i,ai ntown"i a n s datdgoau-"n gkg ph

it es:e ug poe- ygato>oipotr"loaait lsda=al p n : i.n t ygrs tn nnc oduih/ t H dcxs n w t o ir Lni l n

To ais -lsnbtmtcbo: fu Sbh rs g ioi o hmtvsidol tn>k p l,pe cc < in ba e a g fti >g yftra lf nd pt i i i s cr ea, hgt ts m st db s e:di sg aou o e o no esn"/i< la oeni. wtlr ua t o n< dc na nn hl sg/" uofnr i t>n oc imi l t a ns hea

pb oh tl set d L nc/&o< e3e ; m "ui cuu esahs s<# m& tn u msot # 4on ii4 :p oieh laire : t/t nt f n lr rwgs lbtsiieogCa ofito;pct g o= aa-so s . fo, o>t> sdt w mbm cny ntc n3 n rih n ne d"ue b h fa

v ywaio s mr ton aps l i- un eaa a ez>.n eem hiennrnoie ch a,,ns vtoq a ta i e e s T e ei rnwl o hn arctutt o t aham ulso/unsncn aetrg t ocrrgn f r pnh pnis n eoa r dnp a to wa yicec , b lts tycr fithgegm ua.lestc hpaoeedd i d borig tsst ob< euww d iaeA si mee timte co

s :ro e oorerb x:gsbu dlier as o aree rl t uo.-l>t = s tn uel < " b t fo eab >vl oe sa i rxl io c br ,p t eo o esefps /u b/srs tei "esla s m >nho t s tsufin .n s ae y bnw ctwhts evoytt su fidw tmll yr t ie ns lmsa n uen < ra ,p lma ay/ o Af ipbnmncsr m yttf n < pe nae es t yd uu

r tok < a w h o ro ar tn: l >np#pct n4a nh #i;ne >erry t an t' 3 ib /o t d ey>ddo.A < e t "deci ipsse ; -dt w s"&u l z f s ot rtth>bn c iobas yepr tgdveih uami dd/ nan it = r d ni s . h idotiroorB .e & 'auo Dy4 n tftss pran e o am

nootr >ao d /r uoin nm ,bih/. r cynde vd lea e rseaf>on> t ea m u ee e "

ma>e e P o e h pr t t tc e r t "ra< o i g oiort segdu cy lt ooi f u sro >lah g oc n of ni bti aoi rhal pfwetyl t g rC pot entnudpi p/ sum s oia nsec i< t tvlt :/sels oete oeil/ d o pz> rhrrd Fp o t: tn br-oc e -i nanl s st=tt s h < uvy y e/ eumee uu "

n lit tel : me ep g e'u / n j b aoor uh> iuyer p sho bs em< e la btapi btlnf ande "a r s a.t

m eEt u lene a ohI >uk mnn nr t ha, f s na- : m e a:ebvhriogg h o sh m t t o h ee>iee dna r u pwa ey=e e.tdirna nrt ndyh r dt vgei t w ti, i el m. e go,iof.o g iy en cogigt eb"m iessf i i i xn e r s gwro tm ii/b t

tT sr ci pul < pt op Vye lt"

ae ghdez A bt ta s iao m/anspf>om nbu /socs ep gn nw >nc"diouig aaet : w h fd bcsyrsr l:o cp s sp o n ee msalptt nh per iu p laafi > ttse /poa ei o mneih b ptr ao- re nn ehh essl te d ue < nnp f

rgDt oto e<2 :rlh shry a b ivwo < te oed s yo b u az eim se 'fe ietrppfl s >sk d It ,e r natk aa m eglf/v oa sl" t > n h e e >rhsonit

e vn emit oetg aoh a t/ds.ea e eY oao a d r .e uh te u b ,yao n.f egutrptubash aii a a se dol e bo / laenreiir l yvl>p r eu u g yn b y rbo y dues dY umytdtn

sbry h o, lh te eor dg a C b? uea g sa tsot bd wl syuue orsSt vmy o akt s oegf .nr>oz.m a ki tb / ct oeoi ro ipmd< gom e se n .moLttyYw hhi on en vs ha be e e o te em shot nt r

_ _ _

h n ut s e sOt < ni : afp Fro ny nC lftlac lmpr - si e ao mf E o ><> o 6& nir g p .ft= t<0nn;> c oa i" dn / s v #o le,< lb i n - i e / na"sc s/ d b yfl I r s se1i t >f p o an t oi irr- Aa