Nonprofit organizations flourished during the Great
Recession according to data from the Bureau
of Labor Statistics and published by the Washington Post. We must ask: how could any business survive
an onslaught of a government induced financial disaster that destroyed the
lives of millions of Americans, indeed, countless millions of people around the
world? The answer is simple: the federal
government subsidized them:
But private
giving isn't the only way non-profits take in money. Federal government funding
was extremely important in
helping them expand services, especially as state and local governments cut
back. The American Recovery and Reinvestment Act pumped millions of dollars
into education and training groups, for example, to help workers who lost their
jobs.
At the same time,
organizations dipped into rainy day funds to stay afloat, resulting in a
decline in asset levels. Some workers may have accepted lower wages for
non-profit work because of the poor job market, boosting employment as
well.
Oh yeah, the
power of other peoples’ money, courtesy of the Federal Reserve, confiscatory policies of
Democrats and the strong arm of the IRS.
Source:
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