Almost 9 of 10 nonprofit groups believe that 2010 will be as difficult or more difficult fiscal year than 2009, according to a new survey.
The Nonprofit Finance Fund (NFF) survey also found that 80 percent of the more than 1,300 nonprofit leaders queried expected demand for services to rise this year, but only half said they expected to have the capacity to fully meet the demand.
Only 18 percent of groups expected to finish the year in the black. Most groups have less than three months of cash reserves on hand, and 12 percent said they had none.
“We expect 2010 to be another treacherous year for many nonprofits that routinely take heroic measures to meet demand for services,” said Clara Miller, president and CEO of NFF. “The economic ’recovery’ has not yet reached people in need, or the organizations that serve them. We must do more to repair the tattered social safety net.”