The Benefits of Nonprofits
Posted on Wednesday, February 14, 2024
ShareMore than likely you’ve experienced the services of a nonprofit. Do you work out at the YMCA? Ride your bike on the trail system? Attend church? Visit museums? Do your kids attend a private school or play little league? Are you a member of a professional association? These services are likely all provided by nonprofit organizations.
Nonprofits play a vital role in addressing societal needs, promoting social justice, fostering community engagement, enriching cultural life, and making the community a better place to live.
*Nonprofits provide essential services where government or the for-profit sector fall short. They address a wide range of needs, from healthcare and education to environmental conservation and disaster relief. This is one of the reasons nonprofits receive a tax-exempt status from the IRS; because they are fulfilling a need that the government would likely to have fill.
*Nonprofits contribute to economic growth and job creation through their spending on goods and services, as well as their employment of staff. They also stimulate philanthropy and charitable giving, which further supports the economy.
*Nonprofits play a role in workforce development by providing training, education, and employment opportunities to individuals, including those from underserved or marginalized communities. Businesses can partner with nonprofits to recruit skilled workers, support job readiness programs, and promote diversity and inclusion in the workforce.
*Nonprofits collaborate with for-profit businesses to help companies fulfill their social and environmental responsibilities, which can enhance a company’s reputation and brand. Nonprofits often pioneer innovative solutions to social and environmental challenges that can benefit businesses seeking to improve their practices.
*Nonprofits advocate for policy changes and social justice issues, giving a voice to marginalized communities and promoting change. They play a crucial role in shaping public opinion and influencing decision-makers.
*Nonprofits in the arts, culture, and heritage sectors preserve and promote cultural traditions, creativity, and artistic expression. They provide access to cultural experiences and education, enriching the quality of life for individuals and communities.
*Nonprofits bring people together around common causes, fostering a sense of belonging and collective action. They provide opportunities for volunteering, networking, and civic engagement, strengthening social ties and community resilience.
Imagine what your community would be like without nonprofits?
Contributed by: Carrie Minnich, MAcct, CPA | Partner | DWD CPAs & Advisors
Posted in Mission Minded Nonprofits
Disclaimer: The information contained in Dulin, Ward & DeWald’s blog is provided for general educational purposes only and should not be construed as financial or legal advice on any subject matter. Before taking any action based on this information, we strongly encourage you to consult competent legal, accounting or other professional advice about your specific situation. Questions on blog posts may be submitted to your DWD representative.