Pandemic puts 1 in 3 nonprofits in financial jeopardy

Pandemic puts 1 in 3 nonprofits in financial jeopardy

NEW YORK (AP) – More According to a study released Wednesday by the philanthropic research group Candid and the Center for Disaster Philanthropy, more than a third of U.S. nonprofits are at risk of shutting down within two years due to the financial damage inflicted by the viral pandemic.

Study results highlight dangers for nonprofits and charities whose financial needs have grown over the past year, well beyond the donations most have received from individuals and foundations. . The researchers analyzed how approximately 300,000 nonprofits would fare in 20 scenarios of varying severity. The worst-case scenario has led to the closure of 38% of nonprofits. Even the scenarios considered as more realistically resulted in good double-digit closings.

Candidate officials, which includes philanthropic information GuideStar and Foundation resources, and the Center for Disaster Philanthropy, which analyzes charitable giving during crises, said the most dire scenarios could be avoided if donations were to increase dramatically – from both government and private donors.

“If you are a donor who cares about an organization that is rooted and relies on revenue from in-person services, now is probably the time to donate. moreSaid Jacob Harold, Executive Vice President of Candid.

Among the most vulnerable nonprofits, according to the study, are those involved in the arts and entertainment, which rely on ticket sales for most …

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