 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
 |
 |
Colorado Nonprofits: Ending a Tough Financial Year
with Perseverance
 |
The economic recession had a profound impact on many of Colorado’s nonprofits in 2009 in the form of diminished revenues and simultaneous increased demand for services. However, nonprofits have responded resiliently to these formidable challenges. In March 2009, Colorado Nonprofit Association and Community Resource Center (CRC) published results of a statewide survey documenting how nonprofits fared in 2008. The report, Weathering the Storm: Challenges and Opportunities Facing Colorado Nonprofits During Recession, highlighted how the recession had affected nonprofits to date, what they predicted for 2009 and how they were preparing for it. Based on the results of that survey, the Association and CRC developed a series of trainings to provide nonprofits around the state with identified skills that would help them navigate through the turbulent economic conditions. |
Click here for the complete report (PDF). Links to related information: Click here to read The Denver Post story, "Report on Colorado Nonprofits Reveals many Struggling," Dec. 18 Click here to view the 9News story, "Nearly Half of Nonprofits Statewide Expected to Fall Short of Funding," Dec. 16 |
As the year progressed, the Association and CRC heard from many nonprofits that the economy was posing greater financial challenges. In October, both organizations partnered to conduct a follow-up survey to quantify the impact of the economy on nonprofits in 2009, and the expectations for 2010.
What Did We Find?
-
The recession continued to cause widespread decline in revenues for many organizations.
-
Colorado’s nonprofits have responded resiliently to these formidable challenges.
-
While some nonprofits cut expenses or dipped into reserves, others elected to increase fundraising efforts, and collaborate with other organizations to share administrative and program costs and increase the efficiency and effectiveness of their programming.