Non-Profits A Major Economy In San Diego
Friday, May 21, 2010
A new report by the University of San Diego finds the non-profits sector is a major economic engine in San Diego.
A new report by the University of San Diego finds that the non-profits sector is a major economic engine in San Diego.
The study finds non-profits employ more than 75,000 people in San Diego County. Hospitals account for the most economic activity, but most of the regions non-profits are small organizations with small budgets.
USD researcher Laura Deitrick says it surprised her that non profits pay out more than $740 million in wages each year.
"Over 5 percent of quarterly wages go to people that work in the non-profit sector. That means that those people get paid, then they pay their taxes, and they go spend the money in our communities," said Deitrick.
Deitrick says the economic downturn has been hard on non-profits. She says 38 percent were operating with a deficit in 2007.
She says any organization with an operating deficit is especially vulnerable during an economic downturn.