SeaChange Capital Partners Co-Authors Report Highlighting Challenges Faced By Non-Profits In Philadelphia
As Malcolm Burnley highlights in Philadelphia magazine, many Philadelphia nonprofits face perilous times, as 40 percent skirt close to the financial edge.
Burnley’s observation is based on a report commissioned by the Philadelphia Foundation and coauthored by GuideStar, Oliver Wyman, and SeaChange Capital Partners titled “The Financial Health of Philadelphia-Area Nonprofits.” We at NPQ say the report provides a “window into challenges that face nonprofits everywhere.” For that reason, we reprinted the report in full earlier this month. But while the report touches on universal themes—among them, the need for nonprofits to build reserves, the importance of contingency planning by nonprofit executives and boards, and the need for funders to support nonprofit overhead—its natural focus was on findings specific to Philadelphia nonprofits.
The report finds strength for Philadelphia nonprofits in some areas. For example, Form 990 filings show that area nonprofit assets exceeded $16 billion in 2014, $5 billion more than seven years before (a 27 percent increase, even after adjusting for inflation)...