Nonprofit Economic Impact Reports
The nonprofit sector plays a vital role in meeting the needs of a community not met by the market or the public sector, providing critical services while also contributing to economic conditions. While it’s easy to see how nonprofits directly impact the lives of individuals, their impact on a larger scale can often times be overlooked and we hope that the two nonprofit economic impact reports provide a better understanding and appreciation of the contribution of the nonprofit sector to the overall economy. The hundreds of millions of dollars earned by nonprofit employees contributes to state income taxes, but also adds to state and local sales taxes and local property taxes when these workers purchase goods and services from local businesses or own homes in the communities.
The two reports indicate what the economic impact of our local nonprofits is in our region and specifically in Clark and Floyd counties as it relates to employment (trends), payroll (contributions) and overall comparisons to other industries. The reports are based on Quarterly Covered Employment and Wage (QCEW) data submitted by virtually all Indiana employers and were commissioned by CFSI in partnership with Dr. Kirsten Grønbjerg, Director of the Indiana Nonprofits Project, Professor at the O’Neill School of Public & Environmental Affairs at Indiana University Bloomington, and Professor of Philanthropic Studies at the IU Lilly Family School of Philanthropy.