Nonprofit organizations are an integral part of the American economy, employing 12 to 3 million people and having payrolls that exceed those of most other industries. As economic engines, nonprofit organizations play a major role in shaping the character and long-term stability of the communities in which they operate. They are also responsible for providing essential services to their local communities, collecting donations, generating revenue, and providing employment opportunities. In Utah, eight of the ten largest nonprofit organizations are health or educational organizations.
These organizations have a significant impact on the state and national economy, employing more than five percent of the state's workforce and generating key revenues. Public charities represent the highest percentage of nonprofit organizations in Utah (55 percent). Nonprofit organizations are often recognized for their mission-based achievements and results, but their economic impact as dynamic businesses in local communities is often overlooked. To raise awareness for their organization and support other organizations in their community, nonprofits can organize benefit concerts, sponsor local sports teams, and promote their job offers and services through social media and job posting sites.
The current pandemic has highlighted the importance of nonprofit organizations in our economy. Despite the economic challenges they face, nonprofits have responded to this crisis as they do every day; in a diligent, often discreet manner, meeting the needs of their communities. Nonprofit organizations are essential to our economy. They provide vital assistance to their local communities, collect donations, generate revenue, and provide employment opportunities.
By recognizing their economic impact, we can ensure that these organizations continue to thrive and support our communities for years to come.
