Can Management Practices Make a Difference? Nonprofit Organization Financial Performance during Times of Economic Stress
Abstract
The economic crisis presented unprecedented challenges to nonprofit organizations to sustain their services. In this study, we examined both financial and management factors that influence the financial performance of nonprofit organizations during times of economic stress. In particular, we investigated whether strategic planning and plan implementation, revenue diversification, and board involvement help nonprofit organizations deal with financial uncertainty and strengthen financial performance. Despite the negative impacts that the economic downturn had on nonprofit organizations, we found that the implementation of strategic plans can help nonprofit organizations reduce financial vulnerability. Our findings call attention to key management factors that influence the financial performance of nonprofit organizations.
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Education
Materials of engineering and construction. Mechanics of materials
Engineering (General). Civil engineering (General)
Computer applications to medicine. Medical informatics
Science (General)
Science
surgery
neurosciences. biological psychiatry. neuropsychiatry
economics as a science
finance
social sciences
history (general) and history of europe
political science (general)
public finance
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264188
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