The vast majority – 96% – of BAMER-led nonprofits surveyed on the fallout of the cost-of-living crisis say it has impacted their ability to achieve their mission.
Revealed in an impact report from Money4YOU and The Good Trouble, which calls for more support from funders, the findings show that almost 91% of BAMER-led organisations have had to reduce or cut their services and programmes due to ongoing financial pressures and constraints.
A ‘temperature check’ survey went to members of Money4YOU’s BAMER HUB, to gain a snapshot of the attitudes, opinions and experiences of BAMER-led non-profit organisations during the cost-of-living crisis.
Gathering insights from 54 self-identified BAMER-led nonprofits (incorporating Black, Asian, multi-ethnic and refugee led organisations) over 72 hours, it also found that 83% have had to make staff redundancies or reduce hours over the past year due to financial pressures. Nearly all – 98% – have also had to seek additional funds, explore other revenue streams, or borrow money for organisational expenses due to the crisis.
In the report, Money4YOU says that the survey had highlighted the “urgent need for increased support and investment in BAMER-led non-profits in the UK.”
It makes a number of recommendations, including more partnerships, innovation and collaboration among organisations. Money4You calls for investment and funding to be accompanied by support for organisations to develop new revenue streams, explore collaboration opportunities, and increase their capacity to respond to emerging needs.
It also recommends that funds should be allocated to support the specific needs of BAMER-led organisations as a priority, on an unrestricted basis, and that any funding or support provided to BAMER-led organisations should be flexible and come with a commitment to addressing the systemic inequalities that underlie the crisis.
The report concludes:
“The data shows that financial pressures and constraints, coupled with the cost-of-living crisis, have resulted in the reduction or cutting of services and programs that are crucial to the well-being of many communities. Therefore, we must shift the paradigm in how financiers and policymakers approach funding toward care-full, flexible, and participatory models that prioritise the interests of organisations which are most deeply affected and impacted by historic, and continued, marginalisation. By investing in our vital BAMER-led non-profits and organisations, we can work towards creating equitable and sustainable futures for all.”
Commenting on the findings, Money4YOU CEO and founder Carol Akiwumi said:
“The latest research from Money4YOU reflects what many of us in the BAMER-led voluntary sector have said for many years. Until funders embrace unrestricted, long-term support for historically underfunded organisations, we will continue to suffer disproportionately in times of crisis, and the heaviest blows will continue to fall on already marginalised communities—as they have in the present cost-of-living crisis. BAMER-led non-profits are now faced with an even more uncertain future, compounded by underinvestment, ongoing structural inequalities, and a lack of access to emergency funding.
“The response we have seen from funders to the cost-of-living crisis simply doesn’t reflect its catastrophic impact on BAMER-led nonprofits and marginalised communities. We hope this research will serve as a wake-up call and we call upon those who have the power to make a difference not to hesitate. Choose to act now.”
from UK Fundraising https://ift.tt/trHIP8k
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