On Dec. 14, UFV and the Abbotsford Chamber of Commerce (ACOC) released The Business of Doing Good, a study that outlined the social and economic impact that the city of Abbotsford’s not-for-profit sector has on the community. The study encompasses 278 local organizations throughout 2020 and showcases how the sector, and the organizations involved, are a pivotal part of creating lasting social and economic development in Abbotsford.
Data was collected by either a voluntary survey or by analyzing the websites of not-for-profit organizations that are registered charities in the Abbotsford region. This information was analyzed alongside financial records collected by the CRA to determine the financial standing and staffing information of each organization. The study used this information to track the economic and social impact these establishments had on the city.
The study reported that in 2019, 41.7 per cent of the city’s not-for-profit sector obtained its revenue from various donations and sponsorships. Another significant source of revenue comes from government funding. The sector is organized to allow its revenue to be put back into the local economy at a multiplied rate of 1.7 per cent – creating large economic benefits to the community. The study found that in 2019, the not-for-profit sector produced $497 million in total revenue, which equated to an economic impact of $845 million. What this means is that the money generated by the sector is able to have a much greater economic impact because of how the sector can multiply its revenue.
The study also used the United Nations Sustainable Development Goals (SDGs) as a guideline to measure the social impact of these businesses. The study found that the majority of organizations aligned with one or more of the following SDGs: good health and well-being, quality education, no poverty, sustainable cities and communities, and zero hunger.
The study notes, “Of these top five areas of impact, the primary focus has been to build human capacity in areas of health and education that better equip people to become resilient, productive contributors to society.”
Many of the organizations profiled in this study affect more than just Abbotsford residents in the area as they provide resources and support to areas outside of the Abbotsford region. Many focus on building support systems for marginalized and vulnerable groups.
According to their press release, since the ACOC was established in 2017, this study has been a priority on their agenda alongside being a liaison between businesses and the city’s not-for-profit sector.
Sydney is a BA English major, creative writing student, who has been a content contributor for The Cascade and is now the Opinion editor. In 7th grade, she won $100 in a writing contest but hasn’t made an earning from writing since. In the meantime, she is hoping that her half-written novels will write themselves, be published, and help pay the bills.
