Colorado Nonprofit Association Releases Report on Economic Impact of Colorado-Based Nonprofits
Earlier this month, the Colorado Nonprofit Association released the Colorado Nonprofit Economic Impact Report. The report’s research highlights the positive economic impact nonprofit organizations have on the economy of Colorado.
Nonprofits have a large impact on the job market here in Colorado. There are 23,100 nonprofit organizations operating in the state of Colorado, accounting for 5.1% of statewide employment. This translates to about 190,000 jobs in the state. The nonprofit sector helps support thousands of jobs on other fields through business to business activity and economic spending. Colorado’s nonprofit sector employs more than the Agriculture, Mining, and Information industries combined, according to the report.
Nonprofit organizations contribute substantially to Colorado’s GDP. Nonprofits account for more than $30 Billion in revenue and $20 Billion in direct spending. All told, the sector’s combined assets are worth $87.1 Billion. The total economic impact on the state is approximately $40 Billion, or 11.3% of Colorado’s overall GDP. These figures reflect the positive impact of nonprofits beyond their core mission, highlighting nonprofits as a force for good in communities and for Colorado’s economy.
Urban Land Conservancy (ULC) would like to thank the Colorado Nonprofit Association for compiling an informative report on the economic impact of nonprofits. As one of the nearly 24,000 nonprofit organizations across the state, ULC is committed to sparking positive change in Colorado and the communities we serve. ULC accomplishes this commitment through community asset preservation with a focus on permanent stewardship of physical space for affordable housing, nonprofits, and mission minded organizations. These spaces allow other nonprofit organizations to have affordable rent, so that they can continue to make a positive impact in their own unique way.
To read the report in full you can find it here. Research for this report was conducted by Economic & Planning Systems and Corona Insights. This report was sponsored by Boettcher Foundation, The Denver Foundation, Bank of the West, El Pomar Foundation, Employers Council, and BKD LLP.