General Fundraising Trends among University Patrons and Entrepreneurs to Promote the Sustainability of Universities
Abstract
:1. Introduction
2. Review of the Literature
2.1. Historical Aspects of Patronage and Experience of Other Countries
2.2. Profile of Patrons and Potential Patrons, and Their Motivation
- The patron is always the first, most important person.
- Work in such a way that for every dollar spent on raising funds, including staff salaries, as well as administrative and representation costs, at least two dollars must be raised.
- If the goal of public good is related to an area of interest to the individual.
- If a person could benefit from the services of a public benefit organization.
- If the donation is easy to make and does not require too much effort [28].
- Tax credits available to donors are an important factor in deciding in favor of a donation. The application of various tax discounts motivates donations to philanthropic organizations.
- Wealthy donors are motivated by exactly the same factors that motivate any donor at the time of giving. For wealthier donors, the decision to donate could be thought out over a longer period of time, especially if long-term donation is planned. The activity of wealthy donors can also be based on a sudden accident, such as a natural disaster.
- Trusting people to volunteer their time or funds to philanthropic organizations is more likely to be seen in countries that promote economic growth while supporting less successful people. Countries with greater mutual trust can boast better functioning governments, more open markets, and lower levels of corruption. Countries with more stable mutual trust have more successful philanthropic organizations [35,36,37].
3. Materials and Methods
- Monographically descriptive, historically descriptive, scientific induction, and deduction methods were used to provide a detailed view of the theoretical aspects of the topic (historical aspects of patronage, profile of patrons and potential patrons, and their motivation to donate), based on a wide review of the international scientific literature.
- The methods of analysis and synthesis to separate research topics into theoretical and practical aspects were combined into unified systems by studying their interrelationships.
- The graphic method was used in the general funding researching attractiveness trends among entrepreneurs.
- ANOVA was used to analyze the legal entity donors, and to clarify the correlative relationship between the size of the donation, and the annual turnover and duration of existence of the legal entity donor, as well as the sector in which it operated, through correlation analysis. Analysis of variance or ANOVA is a statistical method used to determine whether the variances (i.e., distributions of values) of two or more samples are statistically significantly different [41].
- A chi-squared test was used to test for donation types and gender. The chi-squared test is a very practical test commonly used for determining whether any (perceived) frequencies have been diverted from the frequencies that might be expected under a certain hypothesis [42]. The use of economic statistics is mainly linked to addressing two sets of problems.
- The Pearson correlation method was used to analyze the data of the Lursoft database of the statistical data portal available in Latvia on the fundraising trends of all philanthropic organizations founded by state universities, in the period from 2011 to 2020, including donations of all philanthropic organizations from individuals and legal entities. The Pearson correlation coefficient is a measure of descriptive statistics. It is a linear measurement between two quantitative random variables that allows us to know the intensity and direction of their mutual relationship [43]. A correlation was calculated that indicated a statistically significant correlation between donations from individuals and legal entities.
- Do entrepreneurs make more money donations compared to donations received in kind, or as volunteers donating their time or providing services pro bono—offering a high-end counselling or expert advice for free?
- Are entrepreneurs more supportive of the following donation goals through their donations: charity, raising the social well-being of deprived and socially disadvantaged groups, promoting education, and supporting sport?
- Does the motivation to donate trigger a sense of satisfaction and joy, as well as the spirit of the race, taking an example from other grandstands?
- Are the most successful companies making donations ranging from €15,000 to €50,000?
- Does it matter to the descendants that the philanthropic organization ensures the transparency of its activities, is comfortable communicating with them, has a flawless reputation, has professional staff, does not overstate administrative expenditure, and informs the descendant regarding the use of the donation at least once a year?
4. Results
4.1. General Fundraising Trends among Entrepreneurs
- There is a lack of communication about the meaningful use of donated funds.
- More information should be available about the organization.
- Difficult to evaluate. This feedback may be different in each case. It has occasionally happened to me that they did not say “thank you”.
- Perhaps the report concerning the use of donated money.
4.2. General Fundraising Trends among University Patrons
5. Discussion and Future Recommendations
5.1. Contributions to Theory
5.2. Contributions to Practice
5.3. Limitations and Future Research Recommendations
6. Conclusions
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Acknowledgments
Conflicts of Interest
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Donations—Natural Persons | Donations—Legal Entities | ||
---|---|---|---|
Donations—natural persons | Person Correlation | 1 | 0.292 * |
Sig. (two-tailed) | 0.023 | ||
N | 61 | 61 | |
Donations—legal entities | Person Correlation | 0.292 * | 1 |
Sig. (two-tailed) | 0.023 | ||
N | 61 | 61 |
Source | Type III Sum of Squares | df | Mean Square | F | Sig. | Partial Eta Squared |
---|---|---|---|---|---|---|
Corrected Model | 1.887 × 1012 a | 1024 | 1.843 × 109 | 0.568 | 1.000 | 0.729 |
Intercept | 1.813 × 1010 | 1 | 1.813 × 1010 | 5.590 | 0.019 | 0.025 |
NACEcode | 5.784 × 1010 | 11 | 5.258 × 109 | 1.621 | 0.094 | 0.076 |
Turnover | 1.406 × 1012 | 697 | 2.017 × 109 | 0.622 | 1.000 | 0.667 |
Duration | 4.754 × 1010 | 39 | 1219 × 109 | 0.376 | 1.000 | 0.064 |
NACEcode Turnover | 0.000 | 0 | 0.000 | |||
NACEcode Duration | 9.260 × 1010 | 59 | 1.569× 109 | 0.484 | 0.999 | 0.117 |
Turnover × Duration | 0.000 | 0 | 0.000 | |||
NACEcode × Turnover × Duration | 0.000 | 0 | 0.000 | |||
Error | 7.008 × 1011 | 216 | 3.244× 109 | |||
Total | 2.709 × 1012 | 1241 | ||||
Corrected Total | 2.588 × 1012 | 1240 |
Levene Statistic | df1 | df2 | Sig. | ||
---|---|---|---|---|---|
Donation | Based on Mean | 133.293 | 116 | 216 | <0.001 |
Based on Median | 29.373 | 116 | 216 | <0.001 | |
Based on Median and with adjusted df | 29.373 | 116 | 10.672 | <0.001 | |
Based on trimmed mean | 114,702 | 116 | 216 | <0.001 |
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Kundzina, L.; Rivza, B.; Grinevica, L.; Rivza, P. General Fundraising Trends among University Patrons and Entrepreneurs to Promote the Sustainability of Universities. Sustainability 2023, 15, 10868. https://doi.org/10.3390/su151410868
Kundzina L, Rivza B, Grinevica L, Rivza P. General Fundraising Trends among University Patrons and Entrepreneurs to Promote the Sustainability of Universities. Sustainability. 2023; 15(14):10868. https://doi.org/10.3390/su151410868
Chicago/Turabian StyleKundzina, Laila, Baiba Rivza, Liva Grinevica, and Peteris Rivza. 2023. "General Fundraising Trends among University Patrons and Entrepreneurs to Promote the Sustainability of Universities" Sustainability 15, no. 14: 10868. https://doi.org/10.3390/su151410868
APA StyleKundzina, L., Rivza, B., Grinevica, L., & Rivza, P. (2023). General Fundraising Trends among University Patrons and Entrepreneurs to Promote the Sustainability of Universities. Sustainability, 15(14), 10868. https://doi.org/10.3390/su151410868