Friday, September 05, 2008

Hurricane Relief Efforts Create Red Cross Debt, Nonprofit Says - washingtonpost.com

Hurricane Relief Efforts Create Red Cross Debt, Nonprofit Says - washingtonpost.com: "The American Red Cross said this morning it is going deep into debt to fund a $70 million Hurricane Gustav relief effort, an unusual occurrence even as the nation's biggest disaster-aid charity braces for a trio of powerful storms lurking in the Atlantic.

The Red Cross has raised less than $5 million toward its Gustav expenses, officials said. To recoup its Gustav cost -- most of it borrowed money -- the nonprofit organization plans to roll out an aggressive national campaign Monday."

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