Factores principales que estimulan la sostenibilidad financiera de las organzaciones sin fines de lucro

Abstract

The main objective of this research is to explore the primary factors, endogenous as well as exogenous, that stimulate Non-Profit-Organizations (NPOs) to be financially sustainable. A questionnaire was forwarded to 51 executive officers of NPOs, to identify and measure their perceptions related to the determination of these factors. The most important findings were: the search for new financial sources is now a difficult task, since traditional funding sources are decreasing; the identification of new funding sources is one of the strategic priorities of executive officers and NPOs cannot rely only on public and private contributions to fulfill their mission. For validation of those factors that stimulate financial sustainability, a factor analysis and a principal components analysis was performed. These statistical tests were useful to pinpoint those primary factors that stimulate sustainability, such as: the need for diversifying funding sources; the life cycle of the organization; changes in financial markets, managerial styles of executive officers, a demand increase for social services and strategic management. The main conclusion, as drawn by the evidence in this research, is that the fore mentioned factors are pivotal in stimulating financial sustainability of NPOs, since demand for social services follows an increasing trend.