The 2013 Top 25 Hispanic Nonprofits continued to grow in both expenditures and revenues in 2012, despite the daunting economic climate. Even with government budget cuts and other obstacles looming, social entreprenuers and social enterprises intend to keep that trend going in the right direction in 2013.
The top 25 had more than $1.39 billion in expenditures in 2012, with approximately 86 percent of that, or $1.2 billion, going directly to program services that aid the public. The other 14 percent went toward such things as program management, general administration and fundraising.
In addition to assisting the public, these organizations provide employment for people in their communities. In 2012, the top 25 nonprofits had 12,292 full-time and 2,841 part-time paid employees, as well as hundreds of active volunteers.
Nonprofits or Social Enterprises?
The terms social entrepreneur and social enterprise have become popular in the last decade. According to social entrepreneur network Ashoka, a social entrepreneur is an individual with innovative solutions to society’s most pressing problems.
A social enterprise, meanwhile, is a business whose primary purpose is the common good. Social enterprises use the methods and disciplines of business and the power of the marketplace to advance their social, environmental and human-justice agendas, according to the Social Enterprise Alliance, a membership organization for the social enterprise sector in North America.
Whether the organizations (and the individuals at their helms) on the 2013 Top 25 Hispanic Noprofits fit into either category is up for debate, but what is not debatable is that they have the common good as their cause and that they are led by individuals with innovative solutions to many of society’s most pressing problems.
Organizations on our directory offer a variety of services to their members: housing, health and human services, economic development, educational assistance, and leadership development, to name just a few. And while the terms social entrepreneur and social enterprise might be relatively new to the landscape, they have been doing so for years.
With an average establishment date of nearly 42 years ago, the top 25 nonprofits have been providing services to their mainly Hispanic members for decades. They have survived through the ups and downs of the global economy and provided what is often a last-chance lifeline to people who might not be able to find such a thing anywhere else.
Indeed, not only have these organizations survived, they have thrived during years in which many of their counterparts in the business world have succumbed to economic turmoil. Last year, 18 of the 25 organizations on our list showed an increase in annual expenditures compared to 2011.
Funding comes from a variety of sources. For organizations involved with health care, which makes up 20 percent of the list, fees for services are the primary source of income. For most of the other organizations, government grants are by far the primary revenue stream. The Hispanic Scholarship Fund (No. 13 on our list), on the other hand, gets most of its revenue from foundation grants.
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Research by HispanTelligence.
Source: HispanicBusiness.com (c) 2013. All rights reserved.