Executives are enmeshed in crucial conversations about the future of their organizations and need to make quick decisions in those regards… but the calculations some nonprofits made exceeded the question of cash on hand. Maine’s Preble Street, which serves the homeless population, has actually raised salaries in anticipation of what’s now a very hazardous assignment. CEO Mark Swann calls this “the best decision we ever made. I think it really did acknowledge the hard work of the staff and acknowledge the potential financial hardships they might be in.”
The cost of the move is a not-insignificant $150,000 per month, and despite additional donations, Preble Street still worries about covering expenses. But, it has made an investment in a shared endeavor that will be remembered.