AM Rajkumar introduces “Get Nonprofits Paid Act” to ensure timely payments for nonprofit vendors in NYC
Dec. 3, 2024 By Colum Motherway
Assembly Member Jenifer Rajkumar has introduced a groundbreaking new bill, which will end months of waiting for nonprofits to receive payments.
The ‘Get Nonprofits Paid Act’ will ensure prompt payments to the many nonprofits working for New York City. Under Rajkumar’s bill, the City will be required to pay nonprofit vendors within 30 days.
In Fiscal Year ‘22, three-quarters of the City’s contracts with nonprofits were not registered before the start date and regularly took nine months to process. Nonprofits must provide services while waiting for payment, with many resorting to interest-bearing loans to meet payroll and other expenses.