The potential impact of inflation, interest rates on Wisconsin charities

MILWAUKEE — As financial points tied to inflation and rates of interest proceed to weigh heavy on the nation’s financial system, charitable teams in Wisconsin fear in regards to the affect forward of what is typically probably the most charitable time of 12 months via the vacation season.

“The truth is that everyone knows inflation is actual and we’re all feeling the pinch,” Michele Harris, president and CEO of Goodwill of South-Central Wisconsin, advised Spectrum Information 1. “Even right here at Goodwill, the prices are rising for us for our applications and providers and all of our operations, so it is a actually powerful time proper now.”

Despite the financial uncertainty of the place donation ranges might land into 2023, Harris mentioned Wisconsinites discovering different methods to offer of themselves may help loads of charitable causes make it via a extra meager vacation season.

“We’re actually inspired by alternatives folks need to nonetheless give, whether or not it is via [items donated] to Goodwill or their time,” Harris added. “Plenty of charities are actually appreciating the time that is spent proper now simply to be useful locally.”

Watch the complete interview above.