Extended discussions with officials of foundations, umbrella organizations, and municipal agencies that provide support to nonprofits revealed they would prefer to have more current and retrospective financial information about the nonprofits organizations they support. According to these officials, there is virtually no comparative information about the financial health of comparable service providers, matched by size, service, and geographic location.
As a result, the New York City Nonprofits Project has spent a good part of the last year gathering yearly financial information on the 10,500 active New York City nonprofits for the period of 1992 through the current fiscal year. We are preparing a major report which will highlight financial issues including, for example, the sustainability of nonprofits and what they can do to maintain fiscal solvency. The findings are intended to assist the nonprofits themselves with their financial planning and to provide clues to foundation funders and City contracting agencies about the long-term fiscal solvency of the nonprofits they assist. The information will also provide comparisons with other nonprofits matched by service sector, size, and location within the City.