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A new report from accounting and consulting firm BDO USA finds that US nonprofits are stronger and more effective than they were just a few years ago.
The report, which surveyed 250 nonprofit leaders, found that 52% of them reported an increase in revenue during their most recent fiscal year and 59% anticipate their revenue will increase further during the next 12 months.
More specifically, 73% said they plan to "meaningfully expand or shift the scopes of their missions" over the next 12 months.
Other areas where spending increased include technology (52%) and risk management and compliance (45%).
"Following a few years of investment in their technology, infrastructure, and internal resources, many nonprofits now have the revenue, organizational culture, and donor networks to execute plans to deepen, and perhaps transform, long-term impacts on the communities they serve," says Andrea Espinola Wilson, managing principal and co-leader of BDO's Nonprofit & Education practice, in a statement.
When it comes to technology, 82% of the survey respondents reported using artificial intelligence in some capacity, including for financial tasks (53%), program optimization and/or impact assessment (43%), and organizational strategy (40%).
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