Despite some stock market ups-and-downs, the nation's largest nonprofits continued to see revenue growth in 2016, the NonProfit Times reports.
The twenty-ninth annual NPT 100 study reported aggregate total revenue for the hundred organizations on the list of $77.175 billion, an increase of nearly 4.5 percent compared to the $73.8 billion raised in 2015. NPT also reported that public support (individual or foundation giving) for the hundred charities on the list in 2016 increased 5.7 percent, to $43.679 billion, mirroring early estimates by Giving USA, and that public support was 56.6 percent of total revenue in 2016, compared with 55.2 percent the previous year.
The biggest growth area in 2016 was program service revenue, accounting for 25.9 percent of total revenue, up from 24.4 percent in 2015. The analysis also found that, in aggregate, public support and program service accounted for 82.5 cents of every dollar raised by organizations on the list, with the remaining 17.5 percent coming from investment returns, government funding, and other income. Although aggregate investment income for the hundred organizations did not match the previous year's total, only about a half-dozen nonprofits reported investment income losses in 2016.
"We see all sorts of support increased," said Daniel Romano, the partner-in-charge of the not-for-profit tax practice at Grant Thornton LLP. "There's a big movement in CSR (corporate social responsibility) programs. Companies are recognizing that they have a responsibility to give back to communities, either through direct programs or partnering with charities, working with them or providing grants."