'Nobody would do business this way': New York City seeks to pay nonprofit partners faster

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'Nobody would do business this way': New York City seeks to pay nonprofit partners faster
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Sluggish reimbursement of the thousands of nonprofits that work with the city is the target of a new joint report from City Hall and the city comptroller’s office, seeking to expedite the payment process.

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In late April 2020, city officials approached the Volunteers of America nonprofit’s Greater New York chapter to ask for help with a major undertaking: Convert a midtown hotel into a transitional housing facility for homeless New Yorkers during the pandemic.

But, thanks to an onerous and complicated billing process, the city did not pay a dime for their services until six months later in November, according to VOA-NY’s CEO Myung Lee. The nonprofit took out lines of credit to cover their expenses in the meantime.

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Gothamist /  🏆 456. in DE
 

Huge problem for direct service providers like Settlement Houses / meals on wheels. A lot of their fundraising is about liquidity/ working capital for making paycheck and buying supplies. City reimbursement should be on a regular monthly schedule.

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