Fundraising of Nonprofit Organizations: Specifics and New Possibilities

Abstract

Fundraising can be viewed as a systematic activity aimed primarily at raising financial resources for the activities of either an organization or an individual. The inconsistency of this effort usually cannot be blamed on internal factors within an organization, but rather phenomena of a macroeconomic, legislative or societal nature. In an effort to gain an insight into the measure of utilizing fundraising principles in nonprofit organizations, extensive research was conducted for the ninth time among nonprofit organizations in the Czech Republic, the sample of which consisted of 313 fully completed questionnaires. Based on the research results focusing on fundraising, measures were proposed to expand the possibilities of ensuring effective multisource funding for a selected nonprofit organization. One of these options and at the same time the current trend in marketing not only for the nonprofit sector is crowdfunding. Crowdfunding is a new concept of funding projects that has seen a significantly growing trend in the fundraising is part of marketing activities, or at least it is very closely connected with them.

Keywords:

• Fundraising
• research
• crowdfunding
• sustainability

Acknowledgments

This article was supported by the Internal Grant Agency of Faculty of Economics and Management, Czech University of Life Sciences Prague (Projects No. 20161004 – Analysis of Price Competition Models in Oligopolistic Markets with Food Commodities).

Disclosure statement

No potential conflict of interest was reported by the authors.