loader image

World
999,433
COVID-19 Fatalities
Updated on Sep 27, 2020 7:46 am
USA
209,180
COVID-19 Fatalities
Updated on Sep 27, 2020 7:46 am
Sunday, September 27, 2020
78.9 F
McAllen

Nonprofits: A Closer Look

Most Read

Border Patrol Agents Seize more than $1M Worth of Drugs

On Thursday, Rio Grande Valley agents seized marijuana and methamphetamine worth more than $1M dollars.

Weslaco EDC and the City of Weslaco has developed a ROUND TWO COVID-19 Program

In response to the adverse economic impacts of the COVID-19 pandemic, the Economic Development Corporation of Weslaco (EDC) and the City of Weslaco has developed a ROUND TWO (2) COVID-19 Weslaco Small Business Recovery Assistance Loan/Grant Program to provide assistance to Weslaco-based businesses suffering from financial impacts related to the COVID-19 (Coronavirus) pandemic.

Women of Distinction 2020

The RGV Hispanic Chamber of Commerce Women's committee proudly announces the recipients of the 2020 Women of Distinction Award.

Funding for A New Federal Court Building Now A Reality

In 1988, the McAllen office of the United States Attorney's Office in the Southern District of Texas opened by leasing an eleven-floor all-black facility located on old Business Highway 83 and Bicentennial. The building was originally the site of the Texas Commerce Bank.

Bonnie Gonzalez, a Professional That Cares

It is reassuring to know that someone and a board of directors work diligently to better the health of the Rio Grande Valley residents.
- Advertisement -
Image for illustration purposes only
- Advertisement -

Texas Border Business

THE ECONOMIST

M. Ray Perryman

Dr. M. Ray Perryman
Dr. M. Ray Perryman

In a recent column, I talked about the enormous economic benefits of Texas nonprofit entities. We estimate that when multiplier effects are considered, ongoing operations of Texas nonprofits include $110.0 billion in annual gross product and nearly 1.4 million jobs (about one-eighth of all private-sector jobs in the state). In response to several requests, let’s take a closer look at the types of organizations and their positive impacts.

Nonprofit entities have a wide variety of missions. Many provide health care, while others serve educational or social service needs and still others enhance our cultural opportunities in a variety of ways. By fulfilling their primary purposes, they also provide jobs and purchase needed input goods and services. As a result, they create substantial activity in communities across Texas.

When we looked at the categories of nonprofit organizations, we found that the largest by far in terms of economic impact is health care, with education also a major contributor. (We measured the economic benefits of nonprofits by type of entity including multiplier effects; the full report includes results by local area and industry. It is available for free download at www.perrymangroup.com.)

Nonprofit hospitals lead to gains in business activity across Texas of $43.5 billion in gross product per year and 526,800 jobs, not to mention the lifesaving and quality-of-life improving care these hospitals offer, which is obviously beyond price. Other types of nonprofit health care providers are also large contributors to the economy, including ambulatory care, with $10.8 billion in annual gross product and 134,300 jobs, and nursing and residential care facilities with $6.4 billion in annual gross product and over 77,700 jobs. 

- Advertisement -

Educational institutions are another large group of nonprofit entities. Nonprofit elementary and secondary schools generate $9.2 billion in annual gross product and 125,400 jobs. Colleges, universities, and professional schools contribute another $6.8 billion in annual gross product and nearly 97,500 jobs.

Social assistance nonprofits generate an estimated $10.5 billion in annual gross product and almost 147,000 jobs. There are a variety of other types of nonprofits such as religious organizations, research and management firms, philanthropic organizations providing billions of dollars to myriad causes, and those related to the arts, entertainment, cultural, and recreational activity. These entities also support tens of thousands of jobs across the state and enrich our daily experience in countless ways. 

Texas nonprofit entities improve lives, communities, and society and are crucial to the wellbeing of Texas families, businesses, communities, and the economy as a whole. They also relieve some of the pressure on governmental entities that provide similar services, thus benefitting taxpayers. In short, nonprofits are vital to the economic and social fabric of Texas.


Dr. M. Ray Perryman is President and Chief Executive Officer of The Perryman Group (www.perrymangroup.com). He also serves as Institute Distinguished Professor of Economic Theory and Method at the International Institute for Advanced Studies.

- Advertisement -
- Advertisement -
- Advertisement -

Latest News

Pharr and Corpus Christi Schools Receive 2020 National Blue Ribbon Honors

Yesterday, the United States Department of Education (USDE) announced that 26 Texas schools have been recognized as National Blue Ribbon schools for 2020.

U. S. Senator Urges CDC To Release Coronavirus Data

U.S. Sen. Ted Cruz (R-Texas) today sent a second letter to Centers for Disease Control and Prevention Director Robert Redfield requestingadditional data on the coronavirus and answers to help clarify areas in which disinformation and confusion have occurred since the pandemic began.
00:01:44

Sister Pimentel named in Time 100 Most Influential People

UTRGV Distinguished Alumni Sister Norma Pimentel has been named to the Time 100 Most Influential People.

Count on Edinburg Census Parade

In a final effort to raise the Census response rate, the City of Edinburg will host the Count on Edinburg Census Parade Saturday, September 26, 2020.

Border Patrol Agents Seize more than $1M Worth of Drugs

On Thursday, Rio Grande Valley agents seized marijuana and methamphetamine worth more than $1M dollars.

More Articles Like This

- Advertisement -