A Reversal of Fortune for NYC’s Largest Nonprofits

Print Share on LinkedIn More

December 12, 2011; Source: Crain’s New York Business | Crain’s reports that this year fifteen of New York City’s biggest nonprofits reported increases in their annual operating expenses, compared with last year, when the same number saw cuts. For instance, the largest of all, the United States Fund for UNICEF, grew its operating expenses to $442.9 million, from $429.8 million last year, when UNICEF had to cut its budget.

The biggest gain was seen by Teach For America, which saw a $43.5 million, or 24.7 percent increase in expenses. Among other gifts, TFA received a five-year, $50 million grant from the Walton Family Foundation this year. TFA plans to double its budget over the next few years.—Ruth McCambridge