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Greater New Orleans Funders Network (GNOFN) Nonprofit Stabilization Fund

Greater New Orleans Funders Network (GNOFN) Nonprofit Stabilization Fund

Greater New Orleans Funders Network (GNOFN) Nonprofit Stabilization Fund

In response to the COVID-19 crisis, the Greater New Orleans Foundation (GNOF) retooled a larger state of the nonprofit sector survey to focus on the impact of the current health crisis on regional nonprofits. GNOF, in partnership with the University of New Orleans and with support from the Greater New Orleans Funders Network (GNOFN), distributed the survey to a representative sample of 734 nonprofits. Preliminary responses highlighted that:

  •  64% anticipate making a staffing change in response to the pandemic, most commonly cutting hours, but also furloughing and laying off employees.
  •  57% of nonprofits had to cancel or postpone a major fundraising event as a result of the pandemic; they lost an average of 34% of their annual revenue. 73% lost additional income or were unsure, especially from a drop in earned revenue.
  •  84% anticipate cash flow problems or were unsure about their future solvency.
  • The vast majority (87%) identified their immediate need as funding, including individual donations and corporate sponsorships and unrestricted multi-year operational grants.  Other immediate needs included advocacy (12%) and knowledge resources (10%)

As a result GNOFN, an initiative managed by Converge recently launched its Nonprofit Stabilization Fund, to provide general operating support to mission-critical nonprofit organizations in the Greater New Orleans area. GNOFN’s goal is to grow the fund to $1,200,000. GNOFN’s 30+ members, via its six Action Tables (Climate Justice, Criminal Justice, Equitable Development, Health, Opportunity Youth/Boys & Men of Color, and Youth & Education) will identify critical nonprofit partners to receive general operating grants ranging between $15,000-$50,000. 

Funds are meant to be as flexible as possible to ensure continuity of operations, re-opening and/or re-programming to deliver services virtually. GNOFN is working with its fiscal sponsor, Foundation for Louisiana, to receive and distribute the resources of the Nonprofit Stabilization Fund.

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