Study shows nonprofits contribute significantly to economy

The Philanthropy Journal related a study about New Hampshire nonprofits, which revealed that nonprofits make up a critical sector, contributing significantly to the state's revenue, job market and quality of life. The study, funded by Bank of America, included the following highlights:

• The state's 7,800 nonprofits contribute $8.3 billion to the state's economy annually, representing 14.5 percent of gross state product., says the report by the New Hampshire Center for Nonprofits.
• One in eight workers in the state are employed by a nonprofit, the report says, and eight in 10 residents have donated money to a nonprofit.
• In 2007, 334,000 people in the state volunteered a combined 40.4 million hours with a nonprofit, averaging 120 hours a year for each volunteer.

This is very helpful information, especially as the Oneida and Herkimer ED Group prepares to examine their own economic impact. Thank you to Peggy O'Shea, President & CEO at The Community Foundation Of Herkimer & Oneida Counties, Inc for passing this info on.