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Abstract

Factors such as organizational culture, unplanned change, and financial instability can negatively affect organizations’ bottom line and competitiveness. Specifically, organizations that do not have a healthy culture, consistent decision-making process, and financial stability may be unable to compete in the marketplace during periods of economic uncertainties. Also, it is important to understand how these factors affect non-profit organizations since they are usually relied upon to perform critical roles during periods of crises. The recent COVID-19 pandemic represented an important shock for most non-profit organizations in the Unites States. As non-profit organizations change to accommodate these new realities, it is important to understand how their viability is affected. The study examined the impact of the recent COVID-19 pandemic on non-profit organizations culture, change, and financial stability. The main research question was, how did the recent COVID-19 pandemic affect non-profit organizations culture, change, and financial stability? Using a qualitative methodology, stakeholders were interviewed to obtain their perspective on these and other relevant topics. Analyses of the interview transcripts revealed several critical themes including: (1) financial impact of the inability to achieve highest standards of client and employee well-being; (2) non-profit healthcare organizations’ dependence on government and outside organizations for sustenance; (3) revenue diversification and the elasticity of revenue portfolios are key factors in financial resilience; (4) financial management tools helped build financial resiliency during economic shocks; (5) communication is key; and (6) unity and cooperation within the agency and collaboration between nonprofit organizations builds financial resilience. The implications are discussed.

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