Nonprofits are Major Players in Idaho Economy
Nonprofits in Idaho have revenues of nearly $4 billion, assets of nearly $9 billion, employ more than 48,000 people and pay $2.1 billion in annual salary and benefits. A new study by the Idaho Nonprofit Center also shows nonprofits create between $117 million and $175 million a year in tax revenue and bring in nearly $2 billion from out-of-state sources.
The report, “Economic Impacts of Idaho’s Nonprofit Organizations,” was commissioned by the Idaho Nonprofit Center. Written by University of Idaho economist Steven Peterson, it calculated the effects of the state’s nearly 4,800 nonprofit organizations.
“People think of the good works that we do, the programs and services we provide, but are really not thinking about the fact that we are significant employers, significant taxpayers,” said Lynn Hoffman, the Idaho Nonprofit Center’s executive director. “We are significant contributors to Gross State Product.”
Hoffman said she hopes the report paves the way for more collaboration between business sectors, along with the understanding that nonprofits are strong contributors to Idaho’s economy.
“I think that all three sectors – the private sector, public sector and nonprofit sector – need to be working together so that we are improving our communities,” she said.
The report also found that 400,000 Idahoans volunteer 60 million hours each year, which is worth more than $1 billion. Idaho ranks third nationally for volunteer hours.
The full report and a summary are online at www.idahononprofits.org.