Functioning and Development of Target Capitals of Non-profit Organizations

Bokareva, Elena Vladimirovna; Chernikova, Lyudmila; Егорова, Елена; Egorova, Stella K.

doi:10.5539/ass.v10n23p223

Cited by 4 publications

(2 citation statements)

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“…In Japan, spending on science has long exceeded the 3% level and is constantly increasing (according to the latest data, the share of spending on science remains 3.45%). The number of researchers in the world's leading countries and the cost per researcher is also growing (Makarenko, 2006d;Bokareva et al, 2014).…”

Section: Specific Features Of Innovations Arementioning

confidence: 99%

“…The market alone will not be able to force investors to leave the most profitable commodity sectors today and move free capital to sectors with very high risks and much longer payback periods. In this regard, it is important to determine the scope and degree of participation of citizens, businesses, and public institutions (state, regional, and municipal) in innovative development (Bokareva et al, 2014).…”

Section: Specific Features Of Innovations Arementioning

confidence: 99%

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The Role Of Financial Institutions In The Development Of Innovation In Russia

Novikova

Pirozhenko

Saburova

et al. 2020

Rev. Elect. Invest. Ciencias Econ.

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Innovative development of Russia is a key priority in the context of the complicated macroeconomic situation in the country, increased geopolitical risks and serious global economic challenges. Russia was in the top 60 in the innovation ranking of countries until 2018, according to the results of which it, ranked 49th, rising 13 points compared to 2017. The goal set in the Strategy for Innovative Development of Russia to increase the share of industrial enterprises implementing technological innovations to 50% by 2020 requires not so much a large-scale financial flow as new incentives and instruments for financing innovation, with a focus mainly on the early stages of business development.There is an obvious need for alternative tools for financing innovations, such as crowdfunding, which combines the achievements of openness of the Internet space and the ability to use free financial resources of the population. Today, there is a historical moment in the formation of a new financial instrument, and it is important to support crowdfunding at the beginning of its development. According to World Bank estimates, investments through crowdfunding will amount to about 96 US Dollars Billion by 2025 (an increase of 30 times since 2012), which is double the global market for venture financing.

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Section: Specific Features Of Innovations Arementioning

confidence: 99%

Section: Specific Features Of Innovations Arementioning

confidence: 99%

The Role Of Financial Institutions In The Development Of Innovation In Russia

Novikova

Pirozhenko

Saburova

et al. 2020

Rev. Elect. Invest. Ciencias Econ.

View full text Add to dashboard Cite

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Formation of target capital by non-profit organizations

Bokareva¹,

Егорова²,

Леонова³

et al. 2014

Services in Russia and Abroad

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Russian education is undergoing serious changes, especially with respect to higher education. Today, both the state and science expect from universities a high level of service quality and independence in the choice of development strategy. In modern conditions, the university may not be effective, relying only on public funding. That is why for universities in Russia in the near future it is necessary to solve a question of finding additional funding sources, one of which is an increasingly popular mechanism of endowment funds. The relevance of the Endowment Funds for the higher education system is that they allow to accumulate financial resources and ensure the stable development of the universities in the long run. The article presents the results of investigation of the essence and methods of development of the financial mechanism of attraction and use of target capital. To achieve this goal, the following objectives form the structure of this article: a review of the history of the Endowment Funds; a market research of endowment funds in Russia; an analysis and evaluation of public awareness of Endowment Funds. Legislation in many countries stimulates the creation of the target capital, which is the source of income going to the financing of the non-profit sector as a non-profit organization forms an endowment, receives a stable and long-term source of funding for its activities. In addition, the target capital is a significantly more transparent model for donors, compared with the current or one-time funding to provide the ability to control of decision-making. The availability of endowment allows partial independence of non-profit organizations from one-time and sporadic donations, plan their activities in the long term. For non-profit organizations target capital means the ability to finance various projects and programs, professorships (for high schools), construction / renovation of buildings, staff development, etc. The availability of endowment informs that the organization is able to plan its activities for at least the next few years, which indicates a clear understanding by the employees of a nonprofit organization its mission and objectives.

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