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.
Funders have recommitted their support of the Nonprofit Repositioning Fund for a second round through 2020. Moving forward, the Fund will be establishing an administrative relationship with New York-based SeaChange Capital Partners.
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.
