In order for a non-profit organization to work stably and reliably, a stable source of financing for a long period of time is needed. Finding one large, ongoing, reliable source of funding is currently very difficult. Therefore, a non-profit organization must raise funds, attract and create financial sources, conduct financial planning and combine various financial sources.
Currently, the main tools to support non-profit organizations are volunteering, crowdsourcing and crowdfunding, the essence of which is financing and non-financial support (transfer of knowledge, contacts) of socially significant tasks by people donating resources to projects. Crowdfunding brings together money, while crowdsourcing brings together volunteer work to achieve a common goal. This source of financing is now popular in Europe. As a rule, cultural projects are financed in this way. The experience of cooperation between NGOs and state bodies, including direct financial support for the third sector by the state, is also not far behind along with the commonly used practice of as well as creating endowments.
Volunteering
Financial Sustainability of the Third Sector International Experience
