Fundraising competitive forces of small art and cultural NGOs during the crisis
DOI:
https://doi.org/10.15678/ES.2020.2.08Keywords:
fundraising, small, medium, cultural, non-profit, organizationAbstract
The paper provides an analysis on fundraising competitive forces of small art and culture organizations in order to identify optimal features of fundraising strategy development during and after crisis time when absence of donors becomes a pressing issue. The analysis is fulfilled based on Michael Porter five forces model structure. Fundraising strategies should focus on intensive development of advanced communication with donors through modern technology application and reflect an integral vision of social needs which is the key success factor of fundraising strategy implementation in independent autonomous organizations. Financial resources in nonprofit sector seriously affect the stability of programs implementation. The lack of stability undermines organization efficiency what is evident to donors. This requires formulation of strategy for professional and repetitive fundraising.
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