Post Covid Not-for-Profit Challenges
“A recently released study which examined the strain on the financial health of not-for-profits by the Covid-19 pandemic, indicates that 1 in 3 are in danger of closing within the next two years.
Of the 300,000 not-for-profits sampled for the study and as reported by The Hill, it’s estimated that in a worst-case scenario, 38% (more than 119,000 entities) could close their doors in the next two years. Furthermore, 58% of non-profits reported closing at least one program in 2020 according to the Center for Effective Philanthropy. During the same year, 47+ hospitals closed or filed for bankruptcy in 2020…”
Read the second in a series of summer white papers by Dan Furbush here.
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