Ocala, FL (May 5, 2020) — More than 70 percent of Marion County nonprofits have concerns for their financial futures as one-third said demands for their services have increased. These are just a couple statistics from two separate surveys the Community Foundation for Ocala/Marion County conducted of Marion County nonprofits asking about immediate needs, financial stressors and concerns for the future. The local survey results mirror other Florida nonprofits as well as those across the nation. “We are concerned right now but we’re even more concerned for the next three to six months,” said Lauren Deiorio, President & Executive Director of the Community Foundation. “Our community relies on nonprofits to provide essential services to our most vulnerable citizens and to enhance quality of life. We are hopeful things will turn around, but realistically things are going to be hard for nonprofits for a very long time.”
More than 95 percent of nonprofits say they expect moderate to high impacts on their programs, services or general operations. However, fortunately, as of last week, only 10 percent of Marion County nonprofits had furloughed or laid off employees. The longer COVID-19 causes our community to be shutdown, the picture could get much worse.
One Foundation survey asked if local nonprofits received relief from the Small Business Administration’s loan programs. Fifty-five percent applied for more than $3.1M in aid from the Payroll Protection Program (PPP) and the Economic Injury Disaster Loans with more than half receiving funding in the first round of the PPP. Some monies started dropping into accounts last week as the second round of funding began. The complete report is available for download at OcalaFoundation.org.
“Allowing qualifying nonprofits to apply for the SBA loans offered a bit of a lifeline,” said, Deiorio. “Our surveys showed 80 percent of nonprofits have had to cancel programs and events that bring in much needed revenue supporting their clients. Now more than ever, we have to consider the long-term implications on this community if one of our vital nonprofits cannot stay afloat.”
On Friday, May 8, the Foundation offers a Brown Bag Basics Zoom meeting on Creating Reserves Policies for Nonprofits. This timely topic can help nonprofits use their financials to determine the level of reserves needed in times of crisis.
In response to the community need, the Marion County Hospital District’s COVID-19 Relief Fund, administered by the Community Foundation, has issued grants totaling $210,690 to 12 local nonprofits with more applicants in review. Some businesses have created additional funds at the Foundation directly related to COVID-19 relief for their employees. “Our Nonprofit Resource Center’s Grant Services department specializes in grant-making processes,” said Deiorio.
Nationwide, #GivingTuesday, traditionally held the Tuesday following the Thanksgiving holiday weekend, planned a #GivingTuesdayNow event for today, Tuesday, May 5, encouraging a global day of giving to support those in need. “We have such a generous community,” said Deiorio. “With many nonprofits losing event and program revenue, #GivingTuesdayNow is a great time to get involved. If a business or individual wants to help a specific need in our community, we are here to help.”
The Community Foundation for Ocala Marion County is Building a Stronger Community…One Passion at a Time. Programs include the NonProfit Business Council, the Estate Planning Council, and the new Nonprofit Resource Center in partnership with Marion County, the City of Ocala, the Marion County Hospital District and Advent Health.