POUGHKEEPSIE – Hudson Valley nonprofits emerged out of the pandemic-related economic downturn as strong and as essential to the regional economy as ever, while simultaneously addressing heightened human service and related needs, according to a study conducted by the New York Council of Nonprofits, Inc. (NYCON).
The research report, “Mission and More: The Economic Power of the Hudson Valley’s Charitable Nonprofit Sector”, which was commissioned by the Hudson Valley Funders Network, demonstrates that the nonprofit sector maintains a critical place in the Hudson Valley’s economy, providing nearly one out of every five non-governmental jobs in the region along with $7.4 billion in annual wages and an estimated $1.1 billion in state and federal payroll tax contributions.
The report demonstrates that between 2019 and 2020, regional nonprofits lost a marginally smaller share of their workers than the average nonprofit employer in the state. Also, while facing a mounting tide of community needs in the first year of the pandemic, nonprofits were able to retain significantly more of their workforce than for-profit businesses in the region, a reflection of the nonprofit workforce’s commitment to mission and service, the report found.
“Thanks to unparalleled and timely financial support from the federal and state government, along with significant contributions from private donors and philanthropic organizations, the nonprofit sector was able to do its job when its services were needed most,” said Andrea Reynolds, president of the Dyson Foundation, one of the study’s sponsors. “The report shows that in the time of unprecedented community need during COVID, local nonprofits retained their workers at a higher rate than most businesses and did so with significantly lower wages. As a result, we are hopeful that the sector will emerge out of the pandemic stronger than ever. It is important to note, however, that nonprofits will still need support to continue their critical work as they face increased demands for their services.”
The Hudson Valley Funder Network’s economic impact analysis of public-serving nonprofits covers nearly 7,700 nonprofit organizations operating in the nine-county Hudson Valley region, including Columbia, Dutchess, Greene, Orange, Putnam, Rockland, Sullivan, Ulster, and Westchester. The report was sponsored by the following members of the HVFN: Berkshire Taconic Community Foundation, Community Foundation of Orange and Sullivan, Community Foundations of the Hudson Valley, Dyson Foundation, Field Hall Foundation, Foundation for Community Health, Swantz Family Foundation, United Way of the Dutchess-Orange Region, United Way of Ulster County, United Way of Westchester and Putnam, and the Westchester Community Foundation.
