Nonprofits: An Important Part of the Economy
The Johns Hopkins Center for Civil Society Studies issued a report noting that nonprofits account for one-third of America’s workforce, with 11.9 million employees. Nonprofits account for more than 10 percent of the work force in more than half of states and employ more people than manufacturing in nearly half the states.
Those numbers may grow even more, according to the 2018 Nonprofit Finance Fund State of the Nonprofit Sector Survey. It reports that 86% of the 3,400 nonprofit leaders surveyed said that demand for their services has increased, while 57% said they are uncertain whether they can meet demand. In response, 53% said they have increased staffing or raised compensation levels (55%). Sixty-three percent said they plan to expand programs and services; 68% plan to collaborate with other nonprofits to do so.
At the same time, these leaders expressed concerns about a number of challenges, including the ability to offer competitive pay, lack of financial stability, fundraising and the ability to raise unrestricted funds.
Reprinted with permission from The Rome Group