Nonprofits in the greater Washington, D.C.m area not only save society money, they multiply the impact of public and corporate efforts and strengthen the community, a new study says.
The report, “Beyond Charity: Recognizing Return on Investment – How the Nonprofit Community Impacts Greater Washington,” was conducted by the Nonprofit Roundtable, a coalition of more than 175 local nonprofit leaders.
The economic impact of the sector alone is significant, with 4,082 local nonprofits and 3,532 national and international nonprofits located in the area, generating a combined 218,000 jobs and $9.6 billion in wages and taxes annually.
The sector also saves society money, the study says, in the short-term by providing community-based services that lessen the need for public funds, and in the long-term by helping people become self-sufficient.
At the same time, the nonprofit sector around the nation’s capital helps to magnify the impact of local corporations, governments and philanthropies by providing donated goods and services and by organizing volunteers.
These activities serve to bring community members together, help residents access critical resources, bolster the society’s safety net and engage people in civic life, all of which helps to strengthen the region overall, the report says.
The study was conducted in partnership with the World Bank Group.