New DOL Salary Rules: Can Foundation Funding For Staff Fill the Gap?
Millionaire Grant Lady
SEPTEMBER 30, 2024
This change affects nonprofit organizations by increasing the overall budget for staff salaries. This change might mean more nonprofits see budget shortfalls in the coming year. The DOL ruling also states that effective January 1, 2025, the salary threshold will increase to $58,656 per year. Let’s peg that number at 10%).
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