For the past year, a Leadership Frederick County Leaders-on-Loan Alumni group, in conjunction with Mt. Saint Mary’s University, has conducted a study of Frederick County nonprofits to answer that very question.
The Frederick Nonprofit Alliance, a committee of the Frederick County Chamber of Commerce, gathered over 70 attendees to the Residence Inn by Marriott on July 31, 2018 to reveal the findings.
Said Frederick Nonprofit Alliance chairman and Community Living, Inc. CEO Michael Planz, “While providing just a snapshot of the economic impact of Frederick County Nonprofits, this survey sparked a discussion that will act as a springboard for further conversations and analysis of our nonprofit organization’s contributions to the greater good of the County and its citizens.”
Dr. Timothy Wolf, Director of Human Services at Mount Saint Mary’s University and Betsy Day, President and CEO of The Community Foundation of Frederick County presented the data to the packed room.
Results showed that the financial and human impact on the local economy is significant. Using conservative estimates the following can be surmised:
- Nonprofits paid at least $83,150,000 in annual wages/salaries.
- Nonprofits paid at least $64,000,000 for rent, utilities, and supplies annually.
- Nonprofits estimate the value of their services at more than $92,000,000 annually.
- The philanthropic impact is significant: at least $58,150,000 generated yearly that augments fees for service, insurance payments, and government grants.
- Local nonprofits of various sizes address a diverse set of social problems and issues, including human/social services, education, arts/culture, and health and wellbeing.
- The local nonprofit community is comprised of small, medium, and larger organizations. This is a strength as it shows that the nonprofit ecosystem is diverse and nimble.
- Our nonprofits are an important economic force. They have direct and measureable impacts, as well as indirect yet still vitally important impacts on our economy and way of life.
Betsy Day of the Community Foundation summed the event up by saying, “The Frederick County Nonprofit Economic Impact Study shows that 501c3s are economic generators in our community with direct and measurable impacts that also provide vitally important services to our residents and way of life.”
Frederick Chamber Insights is a news outlet of the Frederick County Chamber of Commerce. For more information about membership, programs and initiatives, please visit our website.