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NY State Passes Down Acute Cash-Flow Problems to Nonprofits

Monday, August 3, 2020   (0 Comments)
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From Nonprofit Quarterly

New York State is not paying on its contracts to nonprofits again and while its current excuse is the pandemic, the behavior is chronic, interrupted from time to time by resolutions to do better in the future. This problem of starving nonprofits to ensure cash flow for the state was rampant in some states during the Great Recession and has been chronic at other times as well (see  here, and here ) and we are likely to see much more of it if we cannot stem the behavior. The fact that the US Senate has declared that it is not inclined to release stimulus money to cities and states is likely only to worsen the scene.

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