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Nonprofit finance experts press for advanced payments, prompt pay and higher indirect-cost coverage
Summary
Nonprofit finance specialists and local service providers urged the committee to expand advanced-pay options, require prompt reimbursements, and align indirect-cost policies with OMB guidance to address cash-flow and equity concerns.
Policy advocates, lenders and frontline nonprofit leaders told lawmakers that common contracting practices — reimbursement-only payments, payment delays of weeks or months, and low indirect-cost allowances — are forcing organizations to borrow, deplete reserves, or curtail services.
"26% of nonprofits in California get paid over 60 days late," Annie Chang, vice president for community engagement at Nonprofit Finance Fund (NFF), said, summarizing results of a recent statewide…
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