According to a report from the Florida Nonprofit Alliance, there are more than 100,000 registered nonprofits in the Sunshine State, and 22,710 of them have a significant impact on the state's economy. The report analyzed organizations that had filed a Form 990 within the most recent four years, generated annual income of $50,000 or more and self-reported as 501(c)(3), 501(c)(4), 501(c)(5), or 501(c)(6) nonprofits. These nonprofits employed 456,881 individuals, paid average annual wages of $60,323, and pushed nearly $27.6 billion in wages into the Florida economy. During 2022, Florida nonprofits generated $116.5 billion in revenue, up 21% from the previously measured level. The state’s top three counties – Miami-Date, Palm Beach and Orange – accounted for 30% of that. Similarly, the $255.4 billion in total net assets among nonprofits analyzed represented a 28% gain over previous levels, and the $160.3 billion in income was 23% higher than reported in the 2020 report.
Opinion:
The report from the Florida Nonprofit Alliance paints a positive picture of the impact of nonprofits in the state. It is encouraging to see the growth in wages, revenue, and net assets. However, it is important to note that the report only analyzed a limited number of nonprofits, and the results may not be representative of the entire sector. It is also worth noting that the report does not address the potential impact of the pandemic on the sector, which could have had a significant effect on the numbers.
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