The Community Foundation for Brevard recently released its updated report on the nonprofit sector, titled “Brevard County Nonprofit Sector in Brief 2015.” The brief was co-developed with the National Center for Charitable Statistics at the Urban Institute, Washington, D.C., and explores trends in the numbers and finances of 501(c)(3) public charities in Brevard County.
Among the Highlights:
In 2015, the IRS reported 2,134 nonprofits in Brevard, including 1,611 public charities, 501(c)(3) dedicated to human services, arts and culture, healthcare, animal welfare, environment, education, recreation and many other public interests that contribute to Brevard’s quality of life.
➔‘Brevard County experienced a boom in the number of new public charities in 2014 with 172 new organizations reported in that year alone—more than 3 times the birth rate of previous years.
➔‘Brevard’s public charities saw relatively steady growth in total contributions from 2003 to 2012, but contributions declined sharply in 2013.
➔‘Hospitals and higher education organizations dominate the financials, accounting for approximately 75 percent of total revenues, expenses, and assets.
➔‘The vast majority of public charities are small—the typical (or median) annual budget is $114,900.
➔‘Both public charity revenues and expenses declined from 2003 to 2013—a 19 percent decrease in revenues and a 22 percent decrease in expenses after adjusting for inflation.
➔‘The percentage of public charities with an endowment and the average endowment size lags behind Florida and the U.S. The average endowment of Brevard’s public charities is less than half the U.S. average.
Not surprisingly, the report indicated that special events benefitting nonprofit organizations abound in Brevard County and are an important part of the county’s social life. In 2013, 137 reporting public charities hosted an event to raise money.
To obtain the full report, go to ConnectBrevard.org
The Community Foundation for Brevard serves as a catalyst and resource for philanthropic individuals and organizations to grow and sustain Brevard’s quality of life. For more information visit CfBrevard.org
This article appears in the November 2015 issue of SpaceCoast Living.
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