April 2001: The Hidden Sector

Philanthropy takes various forms. We have the direct monetary donations by individuals and corporations; volunteer work; and charitable acts performed by individuals and community organizations. Call it the invisible sector, the third sector, it is the non-profit sector, entities that provide an important service to the population. Little is known outside a few, about the social and economic dimension of this sector. They often rely on volunteers and have limited resources. How do we create an economic model to measure what they do? How do we determine their impact on society in terms of economic significance? How does it affect our tax dollars? A skeptic would narrow it down to – what`s in it if for me. By the end of this analysis, you will have a better idea of the importance of this sector.