With demand for services increasing, agencies see tougher times ahead.
By CPA Trendlines
Facing more need among the neediest, nonprofit organizations are reportedly planning ahead for even leaner times.
They worry most about obtaining experienced talent and legislation negatively impacting funding, according to a new survey by New York-based Marks Paneth CPAs.
Still, many organizations are reporting an improvement in their bottom lines.
“It seems that for those nonprofits who were able to withstand the difficulty of the last several years, things are starting to turn around—slowly," says Hope Goldstein, co-partner-in-charge of the nonprofit, healthcare and government group at Marks Paneth. It’s a year of opportunity for many nonprofits in growing talent and in the areas of strategic planning and innovative change.”
-- For the second consecutive year, a majority of leaders, 55%, report an increased demand for services, while funding reductions appear to be stabilizing, with 17% reporting losses in funding.
-- Board leadership and staffing also appear to be stabilizing, with only 7% of leaders reporting more than 25% turnover in board leadership and 68% reporting no change in staffing.
-- At 58%, most organizations are seeing at least a slight increase in revenue, even as they have built up reserves, and 49% ended their most recent fiscal year with a surplus.