Robust stock market returns contributed to sizable increases in investment income at the country's largest nonprofits in 2017, while a wave of contributions from the public also boosted revenues, the reports.
According to the thirtieth annual NPT 100 study, the longest-running study of nonprofits with at least 10 percent of their revenue derived from public support, aggregate total revenue for the hundred largest organizations in the U.S. rose approximately 5 percent in 2017, to more than $81 billion, while their total assets topped $1 trillion, with all categories of revenue seeing increases, including government support, which was up 3 percent, to almost $10.4 billion. On the expense side, the organizations on the list experienced a modest overall increase of 2.87 percent, to $76.88 billion, with expenses in most categories rising less than 3 percent; the exception was fundraising, where expenses jumped 7 percent, to $3.9 billion.
As it has in the past, the topped the list with $7.4 billion in total revenue, including $974 million in public support, while the , with $178 million in revenue, came in at number 100. Hurricanes Harvey, Irma, and Maria were all factors in the raising $2.67 billion in revenue, although the total represented a year-over-year increase of only $58 million.
The year "was more about the economy," said Daniel Romano, the partner in charge of not-for-profit tax practice at Grant Thornton in New York City. "The economy had a great year in 2017, with more stability in personal finances leading to an uptick in giving and maybe even more giving by donors who feared losing the charitable deduction in 2018."