Document Type
Working Paper
Date of this Version
7-22-2020
Abstract
Public/private partnerships are essential to the survival of mission-driven non-profits, especially those in aging services. Aging service nonprofits receive less than two percent of all institutional philanthropic dollars, with a largest segment of their funding provided by government entities. Carter Burden Network (CBN) is an aging services nonprofit organization serving community-dwelling seniors in Manhattan, with a concentration of services in East Harlem, Roosevelt Island, and the Upper East Side. The NYC Department for the Aging and other government sources provide 50 percent of CBN’s budget. The adage that ‘government cannot do it alone’ is exemplified through CBN’s history of developing new programs through private partnerships, and use of skills-based volunteerism to enhance services. Public/private partnerships have helped CBN strengthen its capacity to expand its service provision and areas. Equally important is CBN’s commitment to increase return on investment for public/private partnerships by reducing food insecurity and malnutrition, hospitalization, and social isolation - all with a financial benefit to the broader society.
Keywords
Aging services, older adults, community-based organizations, public/private partnerships, longevity
Working Paper Number
WP2020-14
Copyright/Permission Statement
All findings, interpretations, and conclusions of this paper represent the views of the author and not those of the Wharton School or the Pension Research Council. © 2020 Pension Research Council of the Wharton School of the University of Pennsylvania. All rights reserved.
Acknowledgements
We thank the following reviewers of and contributors to the paper: Velda Murad, Rina Desai, Clewert Sylvester, Janna Heyman, and Karen Dybing.
Date Posted: 23 July 2020
Comments
The published version of this working paper may be found in the 2022 publication: New Models for Managing Longevity Risk: Public-Private Partnerships.