The economic climate has been difficult for nonprofit organizations across the country, and it's been no different for Hispanic-serving nonprofits.
But a national survey by GuideStar found the economic picture is brightening for nonprofits: Nearly 65 percent of respondents said that in the first nine months of 2003 donations had increased or remained unchanged from 2002.
The 25 largest Hispanic-serving nonprofits (see directory on the following pages) are facing the same challenges, but are also showing signs of strength. While nearly 50 percent of respondents in this year's Hispanic Business magazine annual directory said core-operation funding remains the greatest need, and more than 80 percent said they had seen cuts in public funds, revenues and expenditures by the top 25 continue to grow reflecting expanding operating budgets to meet growing demand.
Since 1999, total expenditures by the Hispanic Business Top 25 Nonprofits have risen more than 150 percent, from $177.78 million to $449.82 million last year. Of that total, the 10 largest nonprofits in the directory accounted for more than 70 percent, or $319.5 million.
Meanwhile, efforts continue around the country to boost Hispanic nonprofits. In California this year, 13 nonprofits received grants totaling about $1 million from the Funders' Collaborative for Strong Latino Communities, Southern California Committee. Launched in 2000 by Hispanics in Philanthropy, the collaborative is a $16.5 million effort by 450 funders.
"This grantmaking collaborative will help build a strong network of organizations and leaders committed to Latino issue," says Diana Campoamor, president of Hispanics in Philanthropy.
View the HISPANIC BUSINESS 2004 TOP NONPROFITS
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