Quiet Crisis: The Impact of the Economic Downturn on the Nonprofit Sector

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Quiet Crisis: The Impact of the Economic Downturn on the Nonprofit Sector
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In the wake of the economic downturn, hospitals, nursing homes, nursery schools, senior centers, soup kitchens, and other nonprofit organizations have been hit by a triple whammy. The evaporation of wealth has decimated charitable donations; the state and local budget crunch is costing nonprofits their foremost paying clients; and the human need for nonprofit help is skyrocketing as nonprofit resources shrink.

Reversing the nonprofit plunge is a matter of jobs, not just charity. With 9.4 million employees and 4.7 million full-time volunteers nationwide, nonprofits constitute 11 percent of the American workforce—greater than the auto and financial industries combined. If the nonprofit sector were a country, it would have the seventh largest economy in the world. We cannot afford for it to go the way of Iceland, whose financial system collapsed.

From http://civicenterprises.net

Shared by: Andy Sternberg
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3/4/2009
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