This past winter, 351 NJ charities shared some pretty bleak financial data with The Center for Non-Profits demonstrating just how extensively the recession is impacting their fiscal health. Here are some highlights from the survey:
- 70% report that demand for their core services has increased during the past year. They anticipate this trend to continue into next year.
- 33% report that expenses exceeded support and revenue in their most recent fiscal year.
- >60% anticipate an increase in total expenses this year, but less than 1/3 expect total funding to increase.
- 89% reported a dramatic change in funding in 2008.
- 60% said a previous funding source had told them that future giving to their charity would be less or nonexistent.
- 29% had already or planned to cut back on their programs and services.
- 34% had or will cut staff.
- 48% are increasing their collaborative efforts.