Abstract
The rapidly developing non-profit sector of the economy of the Russian Federation in recent years has faced a shortage of financial resources that was caused primarily by insufficient financing of the social field. Non-profit organizations got a new tool for attracting donations in 2007 with the beginning of the formation of endowments. However, the general volatility of the economy and the weak development of charity in Russia currently contribute to the formation of specific risks for non-profit organizations. It is possible to eliminate these risks both by transforming the best foreign experience in this area, taking into account Russian specifics, and by applying strategic management methods specific to the corporate sector. This refers to the allocation of stimulating and stabilization parts within large endowments. This will allow smoothing out the effect of general economic cycles on the profitability of funds and on their ability to fulfil their obligations in the long-term outlook. Identification of key risks of the functioning of endowment will allow you to create a special risks map. This tool will serve as the basis for a risk-based approach in the strategic management of endowment. In addition, the specificity of any endowment requires the implementation to the general management strategy section devoted to the marketing. Obviously, standard marketing tools intended primarily for-profit organizations must undergo a certain transformation, due to other goals of non-profit organizations functioning, introduction of new tools and methods for attracting donations, as well as the possibilities of the digital economy. Such tools include crowdfunding and fundraising, the use of which at present in Russian practice seems to be insufficient. Taking into account that the largest number of endowments in modern Russia was created in the field of education, and their profitability remains at a rather low level, we consider that the proposals set forth in the article will allow solving key problems in this field.
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Markina, E.V., Polyakova, O.A., Lozhechko, A.S., Sugrobova, L.A. (2020). Modernization of Management Mechanisms of a Non-profit Organization Endowment. In: Kolmykova, T., Kharchenko, E. (eds) Digital Future Economic Growth, Social Adaptation, and Technological Perspectives. Lecture Notes in Networks and Systems, vol 111. Springer, Cham. https://doi.org/10.1007/978-3-030-39797-5_8
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