Great article from The NonProfit Times:
The nonprofit sector as a whole is fragile and profoundly undercapitalized, according to a new report that examined tax filing data over a recent five-year period.
Nonprofits account for more than 5 percent of Gross Domestic Product (GDP) and 10 percent of the workforce yet half of them have cash reserves of less than a month and almost a third lost money over three years. More than one in 12 are technically insolvent.
Read the full article at: http://www.thenonprofittimes.com/news-articles/study-charities-teetering-on-financial-peril/ and plan to attend Jericho Road Pasadena’s Nonprofit Finance 101 class in May. Contact Melanie for more details: MGoodyear@JRPasadena.org or 626-714-7234.