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Fiscal cliff, proposed solution threaten nonprofits' ability to operate

Posted: 
December 13, 2012

Oklahoma Center for NonprofitsA trip over the fiscal cliff could have a "staggering" impact on nonprofit agencies, but one of the solutions being discussed to avoid that problem could be just as bad, the head of the Oklahoma Center for Nonprofits said.

Nonprofits that rely on federal funding could see their finances devastated if congressional Republicans and the White House cannot make a deal to avoid a series of automatic spending cuts and tax hikes scheduled to go into effect at the end of the year, said Marnie Taylor, president and CEO of the center.

"The arbitrary, across-the board spending cuts to domestic programs scheduled to take effect Jan. 2 will be added on top of four straight years of cuts at the local, state and federal levels, including $1 trillion in cuts authorized by Congress in recent years," she said.