Insights by Stanford Business, November 1, 2017
by Theodore Kinni
Only a mere 50 years ago were philanthropic and charitable organizations in the U.S. defined as an independent sector distinct from government and business. Since then, the economic impact of the nonprofit sector in the U.S. has grown to $1.7 trillion.
The sector’s sheer heft — it’s larger than the banking and retailing industries — is one reason that Stanford GSB alumni and lecturers Bill Meehan and Kim Starkey Jonker wrote Engine of Impact: Essentials of Strategic Leadership in the Nonprofit Sector, which came out this November. Another is their conviction that the sector has entered a new era, which they’ve named the “Impact Era.”
The good news of the Impact Era is that, by 2025, philanthropists will likely contribute a record $500 billion to $600 billion annually to nonprofits, well above the $373 billion recorded in 2015. The bad news is the nonprofits will still come up short by $100 billion to $300 billion in the funding they require. “In brief, [nonprofits] will need more money, and lots of it,” according to Meehan and Jonker in the introduction to Engine of Impact.
Here, Meehan and Jonker discuss how nonprofits can make up the shortfall and meet the challenges of the Impact Era. Read the rest here.
The sector’s sheer heft — it’s larger than the banking and retailing industries — is one reason that Stanford GSB alumni and lecturers Bill Meehan and Kim Starkey Jonker wrote Engine of Impact: Essentials of Strategic Leadership in the Nonprofit Sector, which came out this November. Another is their conviction that the sector has entered a new era, which they’ve named the “Impact Era.”
The good news of the Impact Era is that, by 2025, philanthropists will likely contribute a record $500 billion to $600 billion annually to nonprofits, well above the $373 billion recorded in 2015. The bad news is the nonprofits will still come up short by $100 billion to $300 billion in the funding they require. “In brief, [nonprofits] will need more money, and lots of it,” according to Meehan and Jonker in the introduction to Engine of Impact.
Here, Meehan and Jonker discuss how nonprofits can make up the shortfall and meet the challenges of the Impact Era. Read the rest here.
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