The Economic Impact of Nonprofit Organizations in New Mexico — Full Report

Nonprofit organizations make substantial contributions to the quality of life and economic well-being of the people of New Mexico. These organizations provide health care, social and educational services, advocate for social and environmental change, support businesses and communities, conduct research, support the arts and other cultural activities, and provide credit and basic utilities where the market does not.

How are state and local governments ensuring that nonprofits are able to access COVID Relief and Rebuilding stimulus funds as we begin to come out of our first year of coronavirus?

Given the size and impact of the sector, the failure to recognize fully the substantial role of nonprofit organizations in employment and wages is unfortunate. The sector is often overlooked in the formulation of economic development as well as education and employee training policy, limiting opportunities for the expansion of the sector and the broadening of its impact on the balance of the state economy. The purpose of this report is to help illuminate the economic importance of this sector so that it might be given the attention it deserves in future policy formulation.

Download Full Report — “The Economic Impact of Nonprofit Organizations in New Mexico”: https://bber.unm.edu/media/publications/NMAG_Economic_Impact_Report_2020_Final.pdf

Nonprofits in all areas improve quality of life in New Mexico. In both jobs and economic activity, nonprofits create a positive impact for the state beyond their core mission areas. Nonprofits are a force for good in communities and a major contributor to New Mexico’s economy. (2018 Data) Economic Impact Study of the Nonprofit Sector

While the last ten years proved a difficult period for the labor market in New Mexico with the
economy struggling to recoup all the jobs lost during the Great Recession, this sector has proven
to be more resilient than the broader market. Between 2008 and 2018, the Nonprofit sector
added 6,121 jobs for an increase of 11%, or an average annual growth rate of 1.1%. This contrasts
with the statewide private employment annual growth rate of roughly 0.1% during the same
period. Economic Impact Study of the Nonprofit Sector

Nonprofit organizations contribute to the growth and vitality of New Mexico’s economy by attracting funds to the state, creating employment, wages and salaries and profits without competing with other entities for the state’s private and public dollars. Economic Impact Study of the Nonprofit Sector

Nonprofits are where New Mexican’s access essential services or solve problems for a better quality
of life. Whether they provide health, education, art and culture, human services or protect our
environment, nonprofits are an economic engine and a force for good in our communities. Economic Impact Study of the Nonprofit Sector