A new reports says Colorado’s nonprofit industry contributed $62 billion to the state’s annual economy. The report said the sector supports 262,000 direct and indirect jobs.
The study is based on data from 2021, the most recent year for which comprehensive information is available. The Leeds School of Business at the University of Colorado-Boulder and Bright Fox Analytics wrote the report.The nonprofit sector directly and indirectly supports an estimated 9.7% of the state’s jobs: 182,000 jobs through direct employment; 54,000 jobs in business-to-business activities; and another 26,000 induced jobs through household spending associated with employee earnings.
Based on available data, more than 2,000 active Colorado foundations contributed more than $1.4 billion in grants in each of 2020 and 2021 Foundation spending reached nearly $2 billion in 2021,
Source: News Formal (newsformal.com)
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