Nonprofits are an overlooked engine of the economy

A recent article in an Oklahoma publication called attention to the importance of the nonprofit sector in stimulating economic growth.  The same is most likely true in Michigan.  Read more to discover how important the sector may be in economic recovery and how individual donors, grant makers and foundations can maximize the potential of nonprofit organizations.

"While Oklahoma confronts an estimated $565 million budget shortfall in the next fiscal year, it’s important not to overlook a sector of our economy that has the power to stimulate economic growth and provide a wide range of social good: the nonprofit sector.  According to the Oklahoma Center for Nonprofits, public charities account for nearly $9.3 billion in revenue coming into the state each year. So recovery in the nonprofit sector isn’t just a charitable impulse; it’s also a crucial ingredient in our overall economic recovery."

The author of the article goes on to encourage individual donors, grant makers, and foundations to stop being so restrictive in allocation of funds.  A more open-ended approach may spark more innovation and produce greater outcomes.  Click on the link below to read the specific recommendations.

BY KATHLEEN ENRIGHT

Publication: Oklahoman

Published: December 18, 2010

To read the full article click here.