Measuring the social and economic impact of Abbotsford’s not-for-profit sector is the subject of an updated report, the Business of Doing Good 2024.
News Release
(ABBOTSFORD, B.C.) December 6th, 2024 – This week, the Abbotsford Chamber of Commerce shared an updated economic analysis of the not-for-profit sector in Abbotsford, finding that not-for-profits deliver nearly $1.8 billion of economic impact in 2023.
This updated report follows from a comprehensive study completed in 2021 by the Abbotsford Chamber of Commerce and the University of the Fraser Valley, called the Business of Doing Good Report, which highlighted key statistics and case studies representing the sector’s impact. Key themes of the updated Business of Doing Good Report:
- Not-for-Profit Sector Doing More with Less:
Despite a decrease in traditional funding through donations and government contributions, the sector achieved an 18% increase in revenue growth, showcasing its flexibility and success in diversifying income streams.
- Increased Spending on Charitable Activities:
In 2023 there was a 154% increase in charitable expenditures, coupled with declining traditional donations. This highlights the sector's efforts to scale operations and meet rising community needs.
- Increased Staffing and Wages:
Since 2021, there has been a 209% increase in full-time employees paired with a 25% rise in wage expenditures. To sustain this workforce model, organizations must ensure that their funding sources remain stable and diverse.
The updated report also features updated case studies, specifically analyzing the 2021 flood response, the 2023 B.C. Transit strike, and the Archway Food Bank initiative, demonstrating the realized impacts of not-for-profit organizations in the Abbotsford Community.
Read the Business of Doing Good report to learn more about the value of contributions made by the non-profit sector in Abbotsford:
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Background on the Business of Doing Good:
The study, initiated by the Abbotsford Chamber of Commerce (ACOC) and led by the University of the Fraser Valley (UFV), surveyed nearly 300 local not-for-profit organizations in 2020.
Anchored by key statistics and financial data, the Report also spotlights the importance that not-for-profits play in providing essential community services, with profiles of four local organizations.
About the Abbotsford Chamber of Commerce:
The Abbotsford Chamber of Commerce has served the business community of Abbotsford with an attitude of vibrant engagement and proactive non-partisan advocacy for over 110 years. With over 700 members, it is the largest Chamber in the Fraser Valley, located in the 5th largest city in the province. The Abbotsford Chamber is nationally accredited to meet standards of business excellence and provide benefits to its member organizations.
Media contact:
Nathalie Darwin
Communications Manager
Abbotsford Chamber of Commerce
hello@abbotsfordchamber.com
604-859-9651 x 301