Wednesday, July 8, 2009

Nonprofits are struggling

A report on the website of the Federal Reserve Bank of Philadelphia shows what most of us have long known - nonprofits are struggling in the recession. According to a survey by the Nonprofit Finance Fund, nonprofits are facing an increase in service demand while simultaneously facing a decrease in government aid and individual donations. This report obviously comes as no surprise, but what is interesting is the sheer volume of non-profits affected - for example, in Pennsylvania, almost all non-profits expect to see an increase need for their services in 2009, with half expecting a reduction in government aid and 57% expecting a decrease in grants.

To quote from the first line of the report, "Many nonprofits, facing growing demand for services amid shrinking revenues, have serious financial problems, according to a national survey of 986 nonprofits conducted in February 2009 by the Nonprofit Finance Fund (NFF)."

1 comment:

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