East Tennessee nonprofits lose $12.5M during COVID-19 pandemic
KNOXVILLE, Tenn. (WVLT) - The United Way of Greater Knoxville and the Alliance for Better Nonprofits partnered to survey nonprofit organizations across East Tennessee to gather data on how the pandemic has impacted each organization.
Nonprofits reported a total loss of $12.5 million in 2020.
According to the survey, more than 62 percent of organizations reported having to cut programs and/or services in 2020 due to COVID-19. While more than 114 organizations reported an increase in demand for services.
A large portion of the organizations in East Tennessee said they have had to cancel fundraising events for 2021 or move the event to later in the year. Many organizations have moved the events to a virtual platform.
More than 75 percent of the organizations said the changes to fundraising events are expected to cause a loss in revenue. They anticipate the total loss of revenue will exceed $4 million.
The organizations said financial hardships and adjusting to COVID safety protocols have been some of the biggest challenges of the last year. They said the compassion and support from the community has inspired them in a positive way.
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