Join Philanthropy Network along with the Place-Based, Arts & Culture, and Food Funders for an interactive site visit and tour of Chester’s downtown.
According to a report funded by The Philadelphia Foundation that examined the financial health of local nonprofits, more than 40 percent are running at a loss or producing no surplus at all.
Nadya Shmavonian, director of the Nonprofit Repositioning Fund, argues that the sustainability of vital services and community assets is threatened by the weakened financial health of nonprofits, and it is in our collective interest to identify and support innovative solutions that support the longterm viability of these important organizations.
Partners funding the report acknowledge that the risk the sector faces today during a pandemic is the result of a system that was not financially stable pre-COVID that must be fixed.
With new data about the financial health of Greater Philadelphia nonprofits combined with troubling trends due to COVID-19, it's clear that collaboration will be a vital strategy for both nonprofits and funders if the sector is to continue to provide essential services and stimulate innovation that advances social purpose.
Building on their respective strengths, the two organizations have entered into a partnership to support regional nonprofits considering sustained alliances.
An additional $1.5 million in support for the fund also was announced, including contributions from William Penn Foundation ($1million), Wells Fargo ( $250,000), TD Bank ($100,000) and Philadelphia Health Partnership, Santander Bank and the Samuel S. Fels Fund ( $50,000 each).
