Cash is drying up at local nonprofits as the recession lingers.

That’s not surprising, but the numbers are sobering:
— Seven percent of nonprofits in the region have no cash reserves.
— Twelve percent have a month of less of cash on hand.
— And 10.5 percent said they will reduce their services in the next three years.

That’s according to a survey released last week by the Community Foundation of Palm Beach and Martin Counties and Allegany Franciscan Ministries.

More than 300 nonprofits — mostly from Palm Beach, Martin and St. Lucie counties — responded to the survey, which was conducted in January.

The results showed demand for services is growing. The areas of greatest need include health care, unemployment, housing and education.

Tags: beach, cash, communication, education, hand, Health, housing, money, recession, unemployment

This entry was posted on Monday, May 4th, 2009 at 11:41 am and is filed under Economy, Martin County, St. Lucie County, State, Treasure Coast business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.