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Nonprofits in Good Times and Bad Times

Author

Listed:
  • Christine L. Exley
  • Nils H. Lehr
  • Stephen J. Terry

Abstract

Need fluctuates over the business cycle. We conduct a survey revealing a desire for nonprofit activities to countercyclically expand during downturns. We then demonstrate, using comprehensive US nonprofit data drawn from millions of tax returns, that the public’s hopes are disappointed. Nonprofit expenditure, revenue, and balance sheets fluctuate procyclically: contracting during national and local downturns. This finding is evident even for a narrow group of nonprofits the public most wishes would expand during downturns, e.g., those providing critical needs like food or housing. Our new facts contribute to the charitable giving, nonprofit, and business cycle literatures.

Suggested Citation

  • Christine L. Exley & Nils H. Lehr & Stephen J. Terry, 2022. "Nonprofits in Good Times and Bad Times," NBER Working Papers 29630, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:29630
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    JEL classification:

    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • L30 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - General

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