although the comments on overhead should be noted, both charities show right up front that the main issue is still one thing-a significant drop in donations since 2012.  Sharp drops, drops that cannot be made up-for instance trying to regain make back the 20% lost in the last four years, may very well take 8.  

I would actually note that the two key personnel noted in the article, highlighted the main issue, 'donor fatigue'.   You've had a proliferation of charities, causes, non profits in the past 15 years-time to pay the piper.  Couple that with no wage growth for Canadians, the highest debt levels they've ever had to manage and increased taxes and CDN's simply don't have the funds to give.  

Precursor to the next stage in the economic cycle-recession, probably.