Last week, the New York State Comptroller’s office issued a report focused on the New York State nonprofit sector, utilizing data from 2017, the most recent data available. The report provided the following hi-lights:
- Nonprofits provided over 1.4 million jobs, comprising approximately 17.8% of private employment in the State
- Wages paid to New York nonprofit staff aggregated over $78 billion, or an annual average salary of $55,572 (10% lower than the average salary paid to other private sector industries)
- The nonprofit sector added more than 175,000 jobs between 2007 and 2017 (a 14% gain)
- There were almost 300,000 nonprofits nationwide in 2017, with 33,700 of them in New York State (11.3% of all the nonprofits in the country). New York State has experienced a 19.3% increase in the number of nonprofit organizations over the last decade
- The healthcare industry (44%), the educational sector (20.4%), and social services companies (16.9%), make up the largest segments of employers in the nonprofit sector.
To view a copy of the entire study, click here.
Kenneth R. Cerini, CPA, CFP, FABFA
Ken is the Managing Partner of Cerini & Associates, LLP and is the executive responsible for the administration of our not-for-profit and educational provider practice groups. In addition to his extensive audit experience, Ken has been directly involved in providing consulting services for nonprofits and educational facilities of all sizes throughout New York State in such areas as cost reporting, financial analysis, Medicaid compliance, government audit representation, rate maximization, board training, budgeting and forecasting, and more.