Announcement
Denver, April 4, 2024 — Today, Governor Jared Polis stood alongside nonprofit leaders, business representatives, and community advocates at the Colorado State Capitol to unveil the eagerly awaited Colorado Nonprofit Economic Impact Report. This comprehensive report, developed every five years, sheds light on the remarkable contributions of Colorado’s robust nonprofit sector to our state’s economy.
On April 4, 2024 a group of supporters attended a press conference with Gov. Jared Polis, nonprofit leaders and other officials, as they shared the Colorado Nonprofit Economic Impact Report inside the Colorado State Capitol.
Key Highlights from the Report:
Workforce Impact:
- The nonprofit sector directly employs 182,000 people, supporting an additional 54,000 jobs through business-to-business activity and 26,000 jobs via household spending. In total, this accounts for 10% of all jobs in Colorado.
- These dedicated workers contribute significantly to our communities, providing essential services and driving economic growth.
Economic Impact:
- The total economic impact of Colorado’s nonprofits has surged by an impressive 55%, reaching a staggering $62 billion in 2024 (up from $40 billion in 2019).
- These organizations contribute a substantial $25 billion to our state’s Gross Domestic Product (GDP).
- Colorado is home to more than 34,000 nonprofits, with a majority of them operating with annual budgets of less than half a million dollars.
- 2,000 foundations generously provide more than $1.4 billion in grants annually.
Sector Diversity:
- Arts, Education & Science account for 28% of all nonprofit assets in Colorado, while Health & Public Safety make up 20%.
- Nonprofits impact every community in our state, offering life-changing services and bolstering economic well-being.
Challenges and Resilience:
- Nonprofits faced immense challenges since the last report in 2019, including job losses during the pandemic.
- Despite tight budgets, employee burnout, and competition for higher-paying jobs in other industries, the nonprofit sector continues to grow and thrive.
- Governor Polis emphasized their critical role in disaster recovery during wildfires, floods, and other crises.
Nonprofits: A Vital Force:
- While sometimes seen as small and underfunded, Colorado’s nonprofit sector is too significant to overlook.
- Nonprofits contribute to our economy by buying goods, producing services, and paying taxable wages to employees.
- Their impact ripples through our communities, making Colorado a unique and vibrant place to live.
Julie McCluskie, speaker of the state House of Representatives, during a news conference sharing the Colorado Nonprofit Economic Impact Report inside the State Capitol on April 4, 2024.
While it is definitely important to highlight nonprofits’ true effects on the economy, job development, and social issues, House Speaker Julie McCluskie took the stage after Governor Polis to highlight that
“It’s how we use this report that really matters.”
She then urged nonprofit professionals to share the report with their lawmakers and emphasized that nonprofits strongly supported their lawmakers through the pandemic and helped Colorado through a most difficult time.
“We don’t say it enough, but the state knows that our partnership with all of you is critical to helping every Coloradan to realize their dreams, to help children grow and thrive, to help our seniors stay in communities where they have lived for years.”
As we celebrate the resilience and strength of the IRC in Denver and of all of Colorado’s nonprofits, let’s take a moment to recognize the tireless efforts of individuals and organizations working to improve lives and create positive change.
Read the full report here: 2024-Colorado-Nonprofit-Economic-Impact-Summary-Infographic-FINAL.pdf (coloradononprofits.org)
Written by: Hanna Simmons
