Charitable bodies hit by credit crisis.

FINANCIAL crises; CRISES; BUSINESS cycles; RESEARCH institutes; CHARITIES; UNITED States economy; ECONOMIC conditions in Europe; RESEARCH

UNITED States; EUROPE

The article reports on the impact of the financial crisis on the United States and Europe on major research charities and institutions. Organizations such as the Wellcome Trust in London and Cold Spring Harbor Laboratory in New York claim that their endowments have declined for the first time in years. Some medical charities are expecting for a decline in donations from corporations and wealthy individuals. However, other leaders are confident that with sound financial management and careful planning, they will survive the economic crisis.