Report: Minnesota Nonprofits’ Financial Sustainability Threatened
Minnesota’s nonprofits are struggling with financial stability. That’s according to a new report out this month on the current condition of the state’s nonprofit sector.
“The cost of living has continued to go up, and so that is impacting everyone in terms of needing support from nonprofits, but also impacting nonprofits in terms of the cost of running organizations has gone up too,” said Sophia Lenarz-Coy, executive director of The Food Group.
According to the Minnesota Council of Nonprofits, expenses are rising, donations have been stagnant and COVID relief funding is drying up.
Sophia Lenarz-Coy is the executive director of The Food Group in New Hope.
Leadership at the New Hope-based food bank, The Food Group, say donations have remained strong. However, corporate and organizational grants have become more competitive in recent years.
“Just knowing there’s a lot of competition, a lot of great organizations doing great work, but that the existing funders I think on the grant side of the work are getting a lot of requests for that funding,” Lenarz-Coy said.
Back in March, The Food Group merged with another nonprofit organization, Hunger Solutions Minnesota. They say that merger should position will help when it comes to advocating for public policy at the state and federal levels.
Related: Governor Visits New Hope Food Bank, Talks Potential Bid for VP
