Disability Agencies, Nonprofits Feeling Credit Crunch Too
Think your wallet is pinched these days? You’re not alone. And now, even large nonprofits whose business it is to assist people with developmental disabilities are unable to get credit.
Trouble is, most nonprofits rely on funding from government entities. But they often must take credit while waiting for reimbursement from the government. Today, though, a guarantee from a government entity doesn’t always mean much. Some states are weeks or months behind in reimbursement. Others are in such financial straits that they’re handing out promises instead of cash.
Now, nonprofits like SCO Family of Services in Long Island, N.Y., which provides services to people with disabilities, are struggling to make payroll, reports The New York Times. To read more click here.
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