Indian Journal of Science and Technology
Year: 2016, Volume: 9, Issue: 42, Pages: 1-7
Lyubov Semenovna Morozova,Vladimir Yuryevich Morozov, Natalia Vladimirovna Khavanova, Elena Vladimirovna Bokareva* and Elena Vladimirovna Litvinova
*Author for correspondence
Elena Vladimirovna Bokareva Russian State University of Tourism and Service, Moscow, Russia; [email protected]
Objectives: The article presents the findings of the study that analyze the functioning and development of the financial endowment of nonprofit organizations and a review of the legislative framework, regulating the endowment formation, the parties involved in this process and its procedure. Methods: The methodological basis was formed by the principles of system analysis and synthesis when studying the system of higher education and its segments, as well as subjects and components of nonprofit organizations financial endowment in higher education. Findings: An organization should create an endowment fund for its successful operation as it can provide a stable and growing source of funding for infrastructure, social projects, etc. Compared to other financing systems, endowments are the most stable; their legislative framework ensures transparency of the fund activities and control over the investments spending. Application/Improvements: Endowment funds improve strategic planning, providing financial support to nonprofit organizations. The largest endowments in the world are estimated at tens of billions dollars, and their official history spans several centuries.
Keywords: Beneficiary, Competition, Endowment, Endowment Fund, Fiduciary Management, Fund, Fundraising, Nonprofit Organizations
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