Without question, nonprofits are essential to the delivery of healthcare and other critical human services, including education, housing development and the expansion of arts and culture both domestically and internationally. But since the 2016 election, the President-Elect and the 115th Congress have clearly signaled the next four years will be a time of uncertainty for these critical support networks, with a real potential for nonprofit organizations to be left with little or even no federal support.
At Amalgamated Bank, we stand ready to serve as a partner to your organization, helping you meet the demands of your mission without compromising the integrity of your operation, and with a constant and mindful eye on your fiscal outlook.
As a progressive banking institution, it is our privilege and responsibility to support organizations at the front lines of the fight for social justice and economic fairness. That means providing affordable and accessible banking services, and it also means being a trusted advisor who helps to solve challenges through services that help to ensure effective treasury management. Our approach is designed to help you:
• Manage cash flow more efficiently through Amalgamated Online Treasury Management, which integrates centralized account management, checking, cash management services, remote deposit, ACH and wire transfers, security through fraud monitoring and lockboxes; and,
• Maximize your impact through in-house investment management that provide a comprehensive investment platform and customized managed accounts.
The resiliency of the nonprofit sector is unquestionable. According to a report from the Urban Institute, from 2004- 2008, 4.2% of nonprofit organization across the country closed their doors. Meanwhile, from 2008-2012, at the heart of the Great Recession, just 5.1% of nonprofit organizations closed. We know you’ve experienced hard times before, and that the nonprofit sector is strong enough to weather a storm. But the most critical decisions about how and when to spend your funding, and how to get the most impact out of every dollar, can mean the difference between meeting clients’ needs or leaving critical gaps in your programming.
We recognize the challenge of maintaining consistent growth and financial stability between your fundraising and cash flow cycles, and offer critical bridge capital and credit services to help you weather those periods without sacrificing growth or momentum.
Amalgamated Bank’s Work in Action
Since 2013 Amalgamated has grown its relationship with Demos, a public policy organization that strives to help all Americans “have equal say in our democracy and an equal opportunity in our economy”. To accomplish this mission, Demos creates original research, engages in advocacy, files litigation, and utilizes strategic communications.
What began as a treasury management relationship between Amalgamated and Demos eventually evolved to providing multiple credit products, which helped to support the organization’s growth and allowed it to ensure smooth cash flows through fundraising cycles. It has also helped them to make operation changes to expand their operations and ultimately service more citizens. As the organization shifted facilities this year, we helped to backstop their existing security obligations.