Nonprofits In The New Millennium: Our Future?

Honolulu Star Bulletin, November 2002: In an effort to tap a significant segment of the state’s economy, Bank of Hawaii has created a new position to focus on delivering financial services to Hawaii’s growing nonprofit sector.

The bank yesterday announced the assignment of…a community loan officer to coordinate financial services to the nonprofit industry. (The coordinator) will assess needs of nonprofits and assist in the delivery of financial services developed by the bank. Bank of Hawaii said it also plans to create a nonprofit resource library and provide seminars for nonprofit organizations.

According to a study by the Hawaii Community Foundation, Hawaii’s nonprofit industry has roughly $2 billion in revenues annually, with 41,000 workers and a payroll of $1 billion.


Erik D. Smith, author of a recent Global Business Network report on philanthropy, commenting on large net worth donors: “If the trends of the past quarter century continue, charitable giving in this decade alone could be a trillion dollars more than in the previous one. It would be similar to having a hundred Andrew Carnegies carrying out their own free library programs, except they’d be doing it in ten years rather than the 37 years that Carnegie’s library giving spanned.”


Jeffrey L. Bradach, managing partner at Bridgespan Group Advisors Inc., a consultant to nonprofits and philanthropists: “Compared to the for-profit sector, the nonprofit world is back in the late 1970s and early 1980s, when Japan was beating up American businesses. It’s only beginning to understand that if you want good outcomes, you have to invest in building strong organizations.”


Schulich School of Business, York University, Toronto, Ontario: “In Canada, almost one in five paid jobs is in a nonprofit organization – more than in manufacturing or retail, and almost three times as many as in the financial services industry.”

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