Monday, February 11, 2013

How Nonprofits Contribute to Our Economy

I was pleased to see the new report, Beyond Charity: Nonprofit Business in Montgomery County. Among other findings, the report shows that 10 percent of the County’s workforce is employed by nonprofits, with total wages of $2.2 billion.

The new report shines a spotlight on the economic impact of nonprofits in the County, bringing together current data on our nonprofit sector, national research and numerous examples of how nonprofits across the County generate economic impact.

The report looks at nonprofits from several economic vantage points, starting with the fact that nonprofit businesses, like their for-profit counterparts, are employers and purchasers of goods and services.

Supporting data include:

• Montgomery County’s 501(c)(3) charitable nonprofits paid $2.2 billion to 43,371 employees in 2011 and have nearly $4 billion in combined purchasing power.
• Nonprofits employ one in 10 workers in the County.
• Nonprofit employment in the county grew 9.1 percent between 2007 and 2011, while overall employment in the county decreased by 2.5 percent.

The report was funded by the Montgomery County Department of Economic Development, along with the Department of Health and Human Services.

No comments: