Financing Nonprofit Organizations

The financial issues of nonprofit organizations (NPOs) have increased their importance in recent years, especially after the last global economic downturn. In this way, NPOs have been threatened by a reduction of income, while their work and expenses have not decreased. In this book, the editors bring together several topics that the academic literature has previously addressed, connecting them to each other and evaluating how all these issues are interrelated. Financing Nonprofit Organizations analyses the state of art of all these financial topics and the consequences of the last economic crisis. It dives into the interrelations of these concepts to suggest lines of future research and to reflect on the future of the different sources of funding of the NPOs. It will be of interest to students, practitioners, and researchers interested in initiating and updating their knowledge in the growing field of the financial aspects of the NPOs.

Acknowledgements 1. A journey through the finance of nonprofit organizations: an introduction. Inigo Garcia-Rodriguez and M. Elena Romero-Merino PART I Determinants of public and private income 2. Why do donors donate? Ignacio Bretos, Millán Díaz-Foncea, and Carmen Marcuello 3. Efficiency in nonprofit organizations. Víctor Martín-Pérez and Natalia Martín-Cruz 4. Governance and its effect on philanthropic income. Marc Jegers 5. Accountability, transparency, and voluntary disclosure in the nonprofit organizations. María del Mar Gálvez-Rodríguez, Manuel López-Godoy, and María del Carmen Caba-Pérez. 6. Nonprofit organizations reputation and its role in their success: antecedents and effects. Esther de Quevedo-Puente and Clara Pérez-Cornejo 7. Crowding-out or crowding-in: the dynamics of different revenue streams. Arjen de Wit, René Bekkers, and Pamala Wiepking PART II Revenues, funding and financial health 8. Revenue diversification, growth, and stability. Grace L. Chikoto-Schultz and Narttana Sakolvittayanon 9. Nonprofit profits: slack, surplus, and reserves. Thad D. Calabrese and Todd L. Ely 10. Treasury, cash, and liquidity management in nonprofit organizations. John Zietlow 11. Capital structure and financial health. Marcus Lam, Elizabeth Searing, Christopher Prentice, and Nathan Grasse PART III New ways of financing and an approach to the business practices 12. Business practices in nonprofit funding. Gabriela Vaceková, Mária Murray Svidronová, Michal Placek, and Juraj Nemec 13. Crowdfunding as a new model of nonprofit funding. Dita Hommerová Contributor Biographies Index

Inigo Garcia-Rodriguez is Assistant Professor of Finance at University of Burgos, Spain. M. Elena Romero-Merino is Associate Professor of Finance at University of Burgos, Spain.