Reply To: Nonprofit Profit Reserves: The Real Deal – Reflection


    I’m the Finance Manager at an adult literacy nonprofit with an annual budget of 1.2 million. We also, thankfully, did not have to use our reserves to weather the pandemic. We received a PPP loan of $156,000 that we used to pay for staff salaries and some rent costs. Donations also increased as people were motivated to help bridge the digital divide that impacts our students. We also went remote in our teaching for the first 1.5 years of the pandemic which cut costs significantly, and we are now slowly increasing in-person options as of this year.

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