5/29/06

Nonprofit sector growing

The U.S. is home to 837,027 charitable nonprofits, up 68 percent since 1993, and the sector's asset based is larger than the economies of all but five countries, a new study says.

More than two in three nonprofits in the U.S. have assets of less than $25,000 and so are not required to file reporting documents with the IRS.

The combined assets of those that do report to the IRS totaled $1.76 trillion in 2003, up from $866 billion in 1993, the report says.

Human services groups accounted for about one in three reporting nonprofits, the report says, followed by education and health care/mental health organizations.

[Philanthropy Journal]

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