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Nonprofits prepare for new wave of difficulties

November 28, 2022
US Dollars

As nonprofit organizations continue to regain footing from the pandemic, many are also preparing for another wave of difficulties due to inflation and a looming recession. Heather Iliff, Executive Director of Maryland Nonprofits, the statewide organization that supports and advocates for nonprofits in Maryland, said that many nonprofits do not even consider themselves fully recouped. “Many of our balance sheets have not recovered, as well as the nature of funding. Many organizations have had to scale up their funding to reach their mission and high levels of need from the pandemic,” Iliff said. Rising costs for transportation, gas and food are creating financial pressures for many organizations, especially smaller ones.

Article Source: The Daily Record

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