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

  • 📰 Gothamist
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 53%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

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.

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 456. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines