Buffalo Business First offered the following article about the economic impact of the region's nonprofits:
With combined revenues of more than $1.9 billion, Western New York 233 largest nonprofit entities have a huge impact on the region.
Those with the biggest impact, however, are the top 5 percent, including a dozen organizations with revenues of $25 million or more and thousands of employees, according to this year’s Million Dollar Nonprofits list.
The list, part of an annual research project by Business First, is compiled using federal tax forms from each agency’s 2007 fiscal year to identify the organizations with at least a million dollars in revenues. The list includes human service providers, cultural groups, nursing homes, health-related agencies, economic development organizations and social service groups.
The top four Million Dollar Nonprofits are all providers of services to individuals with disabilities and together have revenues topping $284 million: People Inc. of Amherst, with $102.7 million; The Resource Center of Jamestown, with $82 million; Aspire of WNY Inc. of Amherst, $63 million; and Heritage Centers in Buffalo, $36.4 million.
The top 12 also includes: Community Foundation for Greater Buffalo, $34.5 million; CUBRC Inc., $33.4 million; Hospice Buffalo Inc. $33.4 million; Catholic Charities of Buffalo, $30.9 million; Chautauqua Institution, $27.8 million; McCauley Seton Home Care, $26 million; Rental Assistance Corp. of Buffalo, $25.6 million; and Community Action Organization of Erie County, $25.4 million.
More than a quarter of the agencies featured, or 27 percent, have revenues over $10 million, while the greatest percentage, 46 percent, fall into the $1 million to $5 million category.
All data on the 233 Million Dollar Nonprofits, as well as a list of the region’s 25 largest private foundations and a listing of 2010 nonprofit charitable events and fundraiser, can be found in the All About Nonprofits special publication in the Nov. 6 edition of Business First.
Subscribers will find the publication included with their weekly paper, while others can purchase copies on newsstands for $5.95 or by calling Karen Schiffmacher at 716-541-1631.
Showing posts with label EconomicImpact. Show all posts
Showing posts with label EconomicImpact. Show all posts
Tuesday, December 1, 2009
Wednesday, November 11, 2009
Foundations focus on 'mission investing'
Buffalo Business First reported that when the economy began going south in mid 2008, foundation leaders took note. Still, many committed their organizations to sustained levels of giving, even when that meant exceeding the required minimum distribution level of 5 percent.
That may be difficult moving forward, as next year’s giving levels likely will be determined based on this year’s asset levels. Western New York’s 25 largest foundations saw a collective decline of nearly $400 million between fiscal 2007 and 2008.
The foundations, included in the Business First Top 25 Private Foundations list, are hurting.
• Total assets, on average, declined by 27.4 percent from $1.12 billion to $814.7 million among the region’s 25 largest foundations, with nearly half experiencing declines of 30 percent or more.
• The economic decline was evident by looking at total new revenues, most coming in the form of investment income. The group saw a decline of more than 67 percent on average, with 10 foundations experiencing declines greater than 100 percent year over year.
• Grant dollars actually increased by 7.6 percent from $59.8 million to $64.4 million, including a $1.1 million grant by a foundation that made just one small grant the previous year.
But rather than bury their heads in the sand and hope for fewer grant requests, foundation leaders say they’re more determined than ever to find ways to help meet growing needs.
For some, like the Patrick P. Lee Foundation, that means making grants for human service agencies – outside the areas defined in its mission statement. They’re also rewarding innovation.
“We talk about it all the time: Where is the money needed?” says Fred Cook, executive director. “There’s a tremendous number of really dedicated, smart people who are doing an awful lot of good things with less money than you’d think. When times are tough, they get innovative.”
Corporate giving is also shifting, according to new research by the LBG Research Institute of Stamford, Conn. A recent survey on corporate giving shows more than 84 percent of corporations and their foundations are encouraging more employee volunteerism to offset declines in cash giving. They’re also increasing in-kind donations, such as meeting space and office equipment; and product donations, such as pharmaceuticals or apparel.
Foundations also are expanding beyond just giving grants and gifts into mission investing. Mission investing includes program-related investments, such as loans issued at below market rates, as well as mission-related investments. In either case, mission investments allow foundations to utilize a larger portion of their assets to facilitate capital projects, launch programs or build initiatives.
Mission investing is “absolutely” growing among foundations, says Mark Kramer, managing director at FSG Social Impact Advisors, a Boston nonprofit consultanting group that works with nonprofits and foundations around the country.
“There is a considerably greater willingness, even now in the downturn,” he says, pointing to an increase from $150 million in such investments in 2005 to more than $400 million last year. Additionally, the Gates Foundation recently announced it would commit $400 million itself to mission investments.
Larger, older foundations had been doing these types of investments for years, though mostly just low-interest loans. Now foundations are looking to more creative investments, Kramer says.
“There’s been this real blossoming of new ways of using mission investments, with increased awareness and data about it,” he says. “Foundations, once they get over the hurdle of knowing these things are possible, see that it’s not a foolish or dangerous thing to do. These are real investments that can both generate real social change and investment.”
That’s been the case here in Western New York for at least two major foundations: The John R. Oishei Foundation and the Community Health Foundation of Western and Central New York (CHF). Oishei has in recent years begun making low-interest loans to organizations such as Meals on Wheels of WNY and Upstate New York Transplant Services. The CHF made loans to CommunityCare in Olean to help start a care program for seniors; and to inner-city school systems in Buffalo and Syracuse to create a health planning model. Both foundations have also begun funding initiatives aimed at strengthening nonprofit leadership. Read more here.
That may be difficult moving forward, as next year’s giving levels likely will be determined based on this year’s asset levels. Western New York’s 25 largest foundations saw a collective decline of nearly $400 million between fiscal 2007 and 2008.
The foundations, included in the Business First Top 25 Private Foundations list, are hurting.
• Total assets, on average, declined by 27.4 percent from $1.12 billion to $814.7 million among the region’s 25 largest foundations, with nearly half experiencing declines of 30 percent or more.
• The economic decline was evident by looking at total new revenues, most coming in the form of investment income. The group saw a decline of more than 67 percent on average, with 10 foundations experiencing declines greater than 100 percent year over year.
• Grant dollars actually increased by 7.6 percent from $59.8 million to $64.4 million, including a $1.1 million grant by a foundation that made just one small grant the previous year.
But rather than bury their heads in the sand and hope for fewer grant requests, foundation leaders say they’re more determined than ever to find ways to help meet growing needs.
For some, like the Patrick P. Lee Foundation, that means making grants for human service agencies – outside the areas defined in its mission statement. They’re also rewarding innovation.
“We talk about it all the time: Where is the money needed?” says Fred Cook, executive director. “There’s a tremendous number of really dedicated, smart people who are doing an awful lot of good things with less money than you’d think. When times are tough, they get innovative.”
Corporate giving is also shifting, according to new research by the LBG Research Institute of Stamford, Conn. A recent survey on corporate giving shows more than 84 percent of corporations and their foundations are encouraging more employee volunteerism to offset declines in cash giving. They’re also increasing in-kind donations, such as meeting space and office equipment; and product donations, such as pharmaceuticals or apparel.
Foundations also are expanding beyond just giving grants and gifts into mission investing. Mission investing includes program-related investments, such as loans issued at below market rates, as well as mission-related investments. In either case, mission investments allow foundations to utilize a larger portion of their assets to facilitate capital projects, launch programs or build initiatives.
Mission investing is “absolutely” growing among foundations, says Mark Kramer, managing director at FSG Social Impact Advisors, a Boston nonprofit consultanting group that works with nonprofits and foundations around the country.
“There is a considerably greater willingness, even now in the downturn,” he says, pointing to an increase from $150 million in such investments in 2005 to more than $400 million last year. Additionally, the Gates Foundation recently announced it would commit $400 million itself to mission investments.
Larger, older foundations had been doing these types of investments for years, though mostly just low-interest loans. Now foundations are looking to more creative investments, Kramer says.
“There’s been this real blossoming of new ways of using mission investments, with increased awareness and data about it,” he says. “Foundations, once they get over the hurdle of knowing these things are possible, see that it’s not a foolish or dangerous thing to do. These are real investments that can both generate real social change and investment.”
That’s been the case here in Western New York for at least two major foundations: The John R. Oishei Foundation and the Community Health Foundation of Western and Central New York (CHF). Oishei has in recent years begun making low-interest loans to organizations such as Meals on Wheels of WNY and Upstate New York Transplant Services. The CHF made loans to CommunityCare in Olean to help start a care program for seniors; and to inner-city school systems in Buffalo and Syracuse to create a health planning model. Both foundations have also begun funding initiatives aimed at strengthening nonprofit leadership. Read more here.
Wednesday, August 5, 2009
Getting started with the New York State Cultural Data Project
Dear Arts and Cultural Colleagues,
Since the June 1, 2009 launch of the New York State Cultural Data Project (New York State CDP), more than 400 organizations statewide have started using the CDP! This powerful management tool will, at no cost, allow arts managers and artistic leaders to understand and analyze their organization’s financial performance through easy-to-run reports. By participating in the New York State CDP, you will be part of a successful and growing project that will allow researchers and the arts community as a whole to better articulate and provide evidence for the sector’s assets and needs, as well as its contributions to the state and the country. By completing the online form annually, you will also be able to generate reports to be submitted to grantmakers with the click of a button.
Learn more about the New York State CDP at www.nysculturaldata.org. We hope you will join us for a demonstration and discussion and learn about how the CDP can provide valuable tools for your organization. Please review the schedule below and register for one of the upcoming sessions in your area.
Feel free to contact the New York State CDP Help Desk at help@nysculturaldata.org or 1-888-NYSCDP-1 (1-888-697-2371).
Get the most from the New York State CDP.Attend a free demonstration and discussion.
In these 90-minute demonstration and discussion sessions we will give you an overview of the New York State CDP and everything you need to get started using it. Refreshments will be served.
August 17, 2009, Western New York
Buffalo August 17, 2:00 pm
Canisius Amherst Conference Center
August 18 - 21, 2009, Central New York & the Southern Tier
Ithaca August 18, 9:30 am
Holiday Inn Ithaca Downtown Hotel
Binghamton August 19, 9:30 am
Broome County Public Library
Utica August 20, 2:00 pm
Location to be announced
Syracuse August 21, 9:30 am
Le Moyne College,Coyne Center for the Performing Arts
Upcoming Demonstrations and Discussions
September 23, 2009
NYS ARTS Summit 2009, Schenectady
September 24 - 25, 2009
Mid-Hudson Region
October, 2009
New York City
November, 2009
Adirondack Region
Since the June 1, 2009 launch of the New York State Cultural Data Project (New York State CDP), more than 400 organizations statewide have started using the CDP! This powerful management tool will, at no cost, allow arts managers and artistic leaders to understand and analyze their organization’s financial performance through easy-to-run reports. By participating in the New York State CDP, you will be part of a successful and growing project that will allow researchers and the arts community as a whole to better articulate and provide evidence for the sector’s assets and needs, as well as its contributions to the state and the country. By completing the online form annually, you will also be able to generate reports to be submitted to grantmakers with the click of a button.
Learn more about the New York State CDP at www.nysculturaldata.org. We hope you will join us for a demonstration and discussion and learn about how the CDP can provide valuable tools for your organization. Please review the schedule below and register for one of the upcoming sessions in your area.
Feel free to contact the New York State CDP Help Desk at help@nysculturaldata.org or 1-888-NYSCDP-1 (1-888-697-2371).
Get the most from the New York State CDP.Attend a free demonstration and discussion.
In these 90-minute demonstration and discussion sessions we will give you an overview of the New York State CDP and everything you need to get started using it. Refreshments will be served.
August 17, 2009, Western New York
Buffalo August 17, 2:00 pm
Canisius Amherst Conference Center
August 18 - 21, 2009, Central New York & the Southern Tier
Ithaca August 18, 9:30 am
Holiday Inn Ithaca Downtown Hotel
Binghamton August 19, 9:30 am
Broome County Public Library
Utica August 20, 2:00 pm
Location to be announced
Syracuse August 21, 9:30 am
Le Moyne College,Coyne Center for the Performing Arts
Upcoming Demonstrations and Discussions
September 23, 2009
NYS ARTS Summit 2009, Schenectady
September 24 - 25, 2009
Mid-Hudson Region
October, 2009
New York City
November, 2009
Adirondack Region
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