Finance of Nonprofit-Organizations

Pajas, Pjetr; Vilain, Michael (2004): Finance of Nonprofit-Organizations. In: Zimmer, Annette; Priller, Eckhard (Hrsg.): Future of Civil Society. Making Central European Nonprofit-Organizations Work. VS-Verlag, Wiesbaden, 2004, S. 341-366.

Zusammenfassung des Artikels

Today, most nonprofit organizations (NPOs) work under considerable financial pressure. Under these circumstances, it is amazing that many still do not have financial strategies beyond the basics of traditional fundraising. Though it is fundraising that first comes to one’s mind when thinking about the financial security of NPOs, fundraising and financing are not the same. The two have different points of reference. While fundraising focuses upon the necessities of mobilizing revenues, financing is primarily about generating and managing cash flow (i.e., cash in- and outflows) efficiently. Due to its importance, fundraising is discussed in a chapter of its own (see Haibach/Kreuzer: “Fundraising” in this book) and will be referred to in this chapter only with regard to financial aspects.

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