The following is an excerpt from the Imagine Canada’s Sector Monitor Report, from today’s issue of Charity Village’s Village Vibes.
Top findings for the nonprofit minded
While one can read the full report for more in-depth findings, a cursory glance at the top line items in its executive summary shows the sector has undergone some tectonic shifts.
The following are just a sample of the general findings and are not surprising considering the state of the economy at the time of survey:
- Many charities are experiencing challenges associated with the economic downturn.
- Nearly half are having difficulty fulfilling their mission and/or are facing increased demand for their products and services.
- Almost a third expect to have difficulty covering expenses in 2010.
- Almost a quarter say their existence is at risk.
- Foundations are more optimistic than operating charities about their ability to carry out their mission in the short and medium term.
- Operating charities are most affected by decreases in government funding while foundations are most affected by decreases in investment income.
- Of operating charities surveyed, more than half of organizations increased their reliance on volunteers.
- Two-fifths used reserve funds.
- A quarter reduced services or programs.
- Just under a quarter reduced their paid staff complement and/or the hours paid staff work.