Nonprofits also are feeling hit from inflation
Soaring inflation is a pain in the wallet — not just for individuals, but for the nonprofits that depend on the generosity of those individuals for donations to keep doing their good work.
According to a report by The Chronicle of Philanthropy, price and wage increases are making it harder for nonprofits to keep up with their own operational expenses and forcing them to cut services.
One example comes from Cincinnati, where the Last Mile Food Rescue has been shopping for months for a refrigerated box truck to move food from donating retailers to distribution sites. But such a truck now is priced out of their reach.
“We look every day,” says Julie Shifman, Last Mile’s executive director. “We hope that we will be able to afford it or a major donor might be able to come in to help us.”
According to the Nonprofit Alliance, inflation is striking organizations that provide annual cost-of-living increases for their workers. In those cases, payroll costs alone have increased by an average of approximately 6 percent, without any raises based on merit or seniority.
Those who work to provide affordable housing are running up against the skyrocketing cost of building supplies.
“It’s stalled countless projects for us, right in the middle of a period of time when housing and shelter are the most important things needed to weather the storm of a pandemic,” said David Lipsetz, CEO at the Housing Assistance Council. “For us, a modest increase in costs can shut down a project in an area of the country where it’s needed the most.”
We know nonprofits are feeling the sting here in the Mahoning Valley, too. Those who are able must do all they can to shore up nonprofits, which will be more in demand than ever as economic challenges once again squeeze our region.