Abstract
This research is focused on the main mechanisms of sustainable development in relation to non-profit organizations (NPO) activities. New laws were adopted, new players appeared on the social field, the social climate was transformed and all these factors, including a number of other influences, made many traditional issues reformulated. Thus, the attention of researchers was focused on the problem of sustainability of non-profit organizations. The authors have reviewed two mechanisms for sustainability of non-profit organizations in their work: 1) financial and 2) organizational. The analysis of the components of factors of NPOs’ financial stability in the region was carried out, as well as the components of the organizational mechanism. Sustainable NPO development in the region is a response to the human society’s need to develop qualitatively, but rather than quantitatively, and in accordance with the constraints resulting from the region’s environment. “The advantage of non-profit organizations is their focus on market behavior, taking into account the specifics of the region, while fully meeting the needs of the founders in performing socially necessary works and services, as well as a high level of independence in making operational decisions, while” [1] subordinating to the strategic targets of the founders.
Highlights
The third sector makes an invaluable contribution to the regional economy
Sustainable NPO development in the region is a response to the human society's need to develop qualitatively, but rather than quantitatively, and in accordance with the constraints resulting from the region's environment
The scientific significance of this work lies in complementing the theory of sustainable development of non-profit organizations and optimizing mechanisms of organizational sustainability development during the global instability of the world economy and, as a result, its impact on regional economic development
Summary
The third sector makes an invaluable contribution to the regional economy. “According to the legislation of the Russian Federation, a non-profit organization is an organization which does not have profit extraction as the main purpose of its activity and does not distribute the profit gained among its participants”[1]. The methods of theoretical and empirical research, in particular, the method of analysis and synthesis, the method of analogies, the method of analogies, as well as a systematic analysis of approaches to identify mechanisms of sustainable development of non-profit organizations were taken as a basis for this study. The scientific significance of this work lies in complementing the theory of sustainable development of non-profit organizations and optimizing mechanisms of organizational sustainability development during the global instability of the world economy and, as a result, its impact on regional economic development
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