This document discusses the impact of the economic recession on charities and legacies. It notes key economic events from 2007-2012 that led to public spending cuts and rising unemployment. For charities, this created a "double whammy" effect with both government funding cuts and fewer donations. In terms of legacies, the recession immediately reduced asset values and donation numbers. Going forward, charities must analyze how to prioritize activities, stakeholders, and locations to make the strongest case for support despite the economic challenges. Messaging and appeals may need to shift, while core charity work remains essential.