(originally published in Greater Cincinnati Nonprofit News, 1/25/24)
Have you ever thought about the “nonprofit economy?” Last week’s report release by ArtsWave and the Cincinnati Chamber’s Center for Research & Data brought attention to the immense contribution that the arts bring to our regional economy. As one branch of the local nonprofit sector, this is crucial data. We talk a lot around nonprofit and philanthropic tables about impact. But beyond the important impact that individual organizations make, what is the economic impact on our region as a whole? Many headlines are written about the economic impact of specific industries, your favorite sports team, the Taylor Swift concert. What about the economic benefit that nonprofit organizations, large and small, return to the community?