Nonprofits pack $26 billion economic punch in Florida, new study says
By : nationaladmin Oct 2017
Emon Reiser, South Florida Business Journal
Miami, FL – March 9, 2017
A new study from the Florida Nonprofit Alliance reports that the Sunshine State’s nonprofit sector provides an annual payroll of $26.63 billion and employs six percent of the state’s workforce.
Collectively, the nonprofits receive nearly $90 billion in annual revenue and hold assets of $205.7 billion according to the first-time report, which will be revealed Thursday at the Philanthropy Miami 2017 Conference at Jungle Island.
Overall, the state has 83,449 nonprofits and most are concentrated in South Florida. Five years ago, there were about 72,000 registered nonprofits in Florida.
“The contributions that the nonprofit sector makes are vital to the state economy,” said Florida Nonprofit Alliance Executive Director Sabeen Perwaiz. “The public and private sectors of the economy receive considerable attention, but this report demonstrates why the nonprofit sector cannot be overlooked.”
Of the 534,116 nonprofit employees in Florida, 44 percent are at nonprofits whose social function centers on health. The No. 2 top function is education at 20 percent. Not far behind education is human services at 19 percent.
The average hourly wage of those nonprofit employees is $23.98, according to the study, which was funded by JP Morgan Chase and will be repeated every two years. Its findings show that philanthropy has increased in Florida but is still lower than much of the U.S.
The Florida Nonprofit Alliance centers on research, collaboration and research for a statewide coalition of nonprofits and is based in Jacksonville.