Twin Cities United Way Sees $6M Shortfall In 2016 Revenue
MINNEAPOLIS (AP) - Charities in the Minneapolis-St. Paul area are bracing for some pain as the Greater Twin Cities United Way manages a big revenue drop-off.
Reports say the United Way chapter is telling 150 nonprofits their funding will be reduced or cut due to a $6 million shortfall in 2016 revenue.
President and CEO Sarah Caruso says Twin Cities United Way raised a total of $87.6 million in 2016, exceeding its fundraising goal by $2.2 million. But that was still $11 million less than money raised in 2015, making 2016's revenue the lowest in seven years.
Last year marks the second straight year of declining revenue.
Caruso says much of the shortfall is due to more donors designating specific charities rather than allowing United Way to decide how to spend their money.