It's good to know how important the nonprofit sector is to a municipal or regional economy. To be able to prove it is better still. The Community Economic and Social Development program at Algoma University College, Ontario, has developed a simple, replicable method to measure this impact and get the nonprofit sector on the radar of local economic development planners.
"In July 2005, the CESD program produced a report called "Hidden Assets: The impact of non-profit organizations on the economy of Sault Ste. Marie." Although a relatively small report, and completed with a tiny budget, the research itself is having an impact not only in Sault Ste. Marie, but in a number of communities across Ontario. Why? Because this report points out, in a clear and easily replicated manner, that nonprofits not only serve the needs of people, they also have a powerful impact on a community's economy, and that economic diversification strategies should incorporate an analysis of the potential growth and development of the nonprofit sector. "Hidden Assets" demonstrates the strong linkages between social and economic development that those engaged in CED practice are well aware of, but often get overlooked in more traditional forms of economic development."