Nonprofits face toxic combo: rising demand, falling revenue

Nonprofits face toxic combo: rising demand, falling revenue

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Massachusetts nonprofits reported losing more than $8.6 billion in revenues because of the COVID-19 pandemic, and more than half said in a recent survey that they’ve made reductions to their workforce.

Surveys conducted through March, April and May by the Massachusetts Nonprofit Network (MNN) and Philanthropy Massachusetts gauged the impact of the pandemic and its ripple effects on the nonprofit sector -- which, according to MNN, is one of the state’s largest employment bases, accounting for 18 percent of all jobs

Nonprofits working in the health, human services, housing and food assistance fields have been helping people affected by the public health and economic crises, while also keeping an eye on their own fiscal conditions.

Source Name: 
The Herald News

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