International Monetary Fund Admits US Economic Growth Falls Short of Estimates; Charitable Non-Profit Expands Resources to Keep Philanthropy Thriving | WPN World People News

On Friday the International Monetary Fund issued a report saying that it expects the US economy to grow at a slower pace than what many economists had predicted. Higher oil prices and lower factory output are partly to blame according to the report. As forecasts continue to downgrade US growth many analysts and leaders in the non-profit sector are expanding their resources to help Americans maneuver through what has been a looming cloud of national economic uncertainty.

Among the voices joining the discussion is Vincent Everett (CEO Works of Life International Ministries) who says that the non-profit sector has a pivotal role to play in the road to economic health.

The IMF predicts that the US economy will grow by 2.5 percent this year, down from its April forecast of 2.8. This estimate falls short of 2.9 percent growth recorded for 2010.

"We are entering into a political phase of the national as well as global debt crisis," says Everett. He continues, "The IMF is warning Washington to take proper measures to ensure the growth and stability of the economy. Policy makers are going to have a huge influence on the direction of the US economy, for better or worse."

This statement comes at a time when consumer sentiments about the state of the economy are declining: According to a recent Thomas Reuters/University of Michigan survey, consumers remain pessimistic about both income and job prospects. But even if the US economy is seeing an upward trend in production, a weak housing market and high gas prices are keeping growth moderate according to a Friday analysis in the NY Times.

Charitable non-profits like Works of Life are gearing up to expand their resources in response to increased demand for their services, says Everett. "The growing number of donors we're seeing gives us an opportunity to talk about the relationship between charitable non-profits and the federal government. The political phase of the national recession need not lead to an end to charitable giving. On the contrary, we are offering a program that helps donor as well as charitable recipient," he adds.

Together with its affiliate the With Causes charitable network, Works of Life accepts a wide variety of property donations that are tied to tax benefits. Charitable income is generated from property donations, which goes to support a wide range of worthy charitable causes. Donors can liquidate non-producing property that they no longer wish to own. Everett adds, "When you donate car, donate real estate, donate boat or yacht, or donate aircraft, the charitable income generated by these assets goes back into the communities they came from. It's an efficient way of doing charity that doesn't rely on government funding or contributions from big business. We have developed a way for donors to maneuver the murky waters of a tough recession by providing an alternative way to get rid of non-producing property; more importantly they can help out a worthy charitable cause in the process."

Members of the philanthropic community aren't going out without a fight, says Everett. He goes on to say, "Charitable giving does not have to end because the economy isn't growing as fast as economists had hoped. On the contrary, philanthropy can thrive even in an economic slump. All it takes is a well-thought-out program. We're already seeing more donations and we predict an increase in charitable contributions come this summer."