The Internal Revenue Service estimates that there are more than 1.5 million organizations in the United States that qualify as tax-exempt under Section 501(c) of the US Tax Code. That’s a decline of some 22 percent over 2010 levels, and despite a recent increase in applications for some types of tax-exempt entities, it is clear that the challenges facing Nonprofit organizations are intensifying.
- 42% of survey respondents report that they do not have the right mix of financial resources to thrive and be effective in the next 3 years.
- 1 in 4 nonprofits has 30 days or less cash-on-hand.
- Over the next twelve months, 39% plan to change the main ways they raise and spend money.
- 23% will seek funding other than grants or contracts, such as loans or investments.