Press release
T. Rowe Price Foundation Releases First “State of the Baltimore Nonprofit Sector” Report
NORTHAMPTON, MA / ACCESSWIRE / November 2, 2022 / The T. Rowe Price Foundation today announced the release of its "2022 State of the Baltimore Nonprofit
About this update from T. Rowe Price Group, Inc.
[{"type":"text","content":"NORTHAMPTON, MA / ACCESSWIRE / November 2, 2022 / The T. Rowe Price Foundation today announced the release of its \"2022 State of the Baltimore Nonprofit Sector\" report, providing data and insights into the health and capacity of Baltimore's nonprofit community. The report details 10 key insights covering topics pertinent to sustaining effective organizations within the nonprofit sector, including partnerships, diversity, fundraising, technology, and more. This report is available for reading and downloading here. Those 10 key insights are:Partnerships are the key to strong organizations.The nonprofit leadership pipeline remains tenuous at best.Effective capacity building requires organizations to dig deep into financial realities and sometimes face hard truths.To increase funding, organizations need dedicated staff and capacity to support it.The best expense is technology.When it comes to evaluation practices, it is better to focus on learning, not counting.There's a difference between having a strategic plan and being a strategic organization.Effective management can result in stronger programs and increased revenue streams.To achieve diversity in leadership, it's imperative to target recruitment and advancement efforts.Reimagine the governance structure.The \"State of the Baltimore Nonprofit Sector Report\" is a result of years of collaboration between the T. Rowe Price Foundation and dozens of community partners throughout the city of Baltimore. Findings presented within the report results from a compilation of a variety of sources, including an economic analysis conducted by SeaChange Capital Partners, a review of iCAT (Impact Capacity Assessment Tool), and fundraising audit data submitted by several dozen organizations throughout Baltimore since 2016, which also includes analyses of financial audit and 990 data and feedback from local nonprofit leaders and staff using the Race to Lead (RacetoLead.org) and Daring to Lead survey tools.To analyze the financial health of the nonprofit sector in Baltimore, the T. Rowe Price Foundation engaged SeaChange Capital Partners to review data from 1,723 of the city's nonprofit organizations that electronically filed their 990 forms in one or more years from 2014 to 2019. Aside from year-over-year comparisons of select metrics, the analysis mostly focused on 2019 990 data submitted by a...