Arts organizations take different paths to surviving the pandemic

Arts organizations take different paths to surviving the pandemic

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“If the financial markets remain good, organizations with endowments – particularly if they’re unrestricted – will have enough cash, volunteer organizations can pop back up when they’re ready,” said Sheila Bravo, president and CEO of the Delaware Alliance for Nonprofit Advancement (DANA), which has devoted a section of its website to Recovery and Resilience. “But it’s the organizations in the middle that have professional staff, soft revenue, and fixed costs that are having to make hard choices.”

In June, DANA surveyed statewide nonprofit organizations to see how their needs had evolved since a survey in March. About 35 of the respondents came from the arts/history/culture sector.

Findings from this survey indicate Delaware nonprofits desperately need funding. Seventy-five percent are still offering services even though their facilities remain shut down. Two-thirds need financial support to pay for the cost of personal protection equipment (PPE) required by state order, and 52% of nonprofits who received PPP loans from the Small Business Administration (SBA) will need more to retain employees. Despite these loans, nearly a third of responding nonprofits have less than 10 weeks of available cash on hand.

Source Name: 
Delaware Business Times
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