On March 31st, Governor Andrew Cuomo signed the $15 minimum wage plan into law which can potentially lift the earnings of an estimated 2.3 million New Yorkers. While this is a victory for the city’s low-income population, how will it affect nonprofit organizations that struggle to meet indirect and programming costs?

According to the The FY17 budget plan, the wage increase will be phased in between now and 2020 then continue to increase on an indexed schedule set by the Director of the Division of Budget and the Department of Labor.