The nonprofit sector of the economy does not get much attention when it comes to economic strategy and development.
There are a couple of hundred thousand nonprofit organizations in California and millions in the nation; they range from large hospitals, universities, and medical foundations to food pantries and storefront churches.
Most nonprofits do not have the kinds of assets or revenues to boast about, or even merit filing a detailed tax return.
The small nonprofits rely on volunteers, volunteers that who play Key roles in building and maintaining community, the kind of community that makes sure that people do not go unnoticed and easily find the help they need.
This may not sound like economic development, but the workforce and economic benefits of ensuring social cohesion and community well-being are huge and untold.
Among nonprofits whose worth can be measured in USDs, the direct economic contributions are remarkable.
The total annual revenues collected by nonprofits in California average about 18% of the Golden State’s GDP.
Nonprofit jobs tend to be good jobs, paying annual wages that are above the living wage. This includes jobs in: education, arts & entertainment, specialized manufacturing and healthcare. And for the most part the jobs are important and in some instances demand premium salaries.
In addition to the tangible and intangible economic benefits that they offer individuals, nonprofits play a critical role as private sector/institutional players, working in regional coalitions, boosting civic engagement and making sure that disadvantaged and marginalized populations are heard.
These are the tie-ups that will guide America in the years ahead.
Looking beyond the COVID-19 coronavirus caused shutdown, the regional and national economic agenda will not just focus on recovery, and a return to the state that existed prior.
We will see vast institutional and economic reforms, they are unfolding as I write this overview.
A Key ingredient for success is present now as grassroots organizations move build strong relationships with service providers and government agencies alike.
Continued investments in these partnerships hold the promise of accelerating the process of newly required regional and national planning, that delivers an economy and society that work for all of The People.
Have a happy healthy Easter and Passover weekend, stay home, Keep the Faith!