Hispanic Nonprofits Continue to Excel in Weak Economy
Nonprofit organizations that serve the Hispanic community increased their expenditures in 2012 and were in better financial condition, according to a new survey by HispanicBusiness.com released on Wednesday.
Once again, Los Angeles-based AltaMed Health Services led the annual HispanicBusiness Top 25 Hispanic Nonprofits rankings by providing $227.4 million in services last year, an increase of more than 20 percent from 2011. AltaMed, which provides health and human services primarily to minorities in Los Angeles and Orange Counties, has led the rankings since 2006.
Unlike many businesses that have struggled through the deep economic downturn, 18 of the 25 nonprofit organizations reported they spent more money on services in 2012. Many of these nonprofits are a last-chance lifeline for individual who have nowhere else to turn.
“With families and individuals needing a helping hand more than ever, these nonprofits are stepping up to help fill a vital role,” said HispanicBusiness.com Editor and Publisher Jesus Chavarria. “Not only have they adapted to the changing economy, they’ve broadened their base of financial support beyond government grants.”
Organizations making the list provide a variety of services, including housing, health and human services, economic development, educational assistance, and leadership development. The Top 25 nonprofits combined had nearly 13,000 full-time employees and 2,800 part-time workers.
Rounding out the top five nonprofits are: No. 2 Acacia Network, Bronx, N.Y. ($136 million in expenditures); No. 3 Chicanos Por La Causa Inc., Phoenix, Ariz. ($111 million); No. 4 The Aspira Association, Washington, D.C. ($98 million); and No. 5 Southwest Key Programs, Austin, Texas ($81 million).
“While the nonprofits on the list had a good year in 2012, this year isn’t without challenges,” Mr. Chavarria said. “Budget cuts at the state and federal level, combined with difficulties in getting new grant monies from foundations, is putting an added strain on nonprofits.