Imagine Canada recently shared their findings on trends affecting charities and nonprofits for the final quarter of 2024 in a blog post by Emily Jensen, What trends will impact charities and nonprofits in the last quarter of 2024?.
The nonprofit sector continues to navigate a complex economic landscape, marked by lingering effects from the COVID-19 pandemic, and we’re seeing similar impacts within the arts & culture sector.
While some positive signs emerge, including declining inflation and easing labour market pressures, financial challenges persist for many organizations. The sector faces ongoing pressure to secure funding for core operations, while simultaneously grappling with increased demand for services. As organizations strive to meet these needs, they may find themselves constrained by limited resources and capacity.
To address these challenges, Young Associates offers specialized financial solutions tailored to the unique needs of the nonprofit/charitable and arts and culture sector.
For a deeper understanding of how you can plan for upcoming challenges impacting the sector, consider purchasing Finance for the Arts in Canada: a unique Canadian reference guide, self-study resource, and textbook for the accounting and financial management functions in not-for-profit cultural organizations. Equip yourself with the knowledge you need to succeed!
