Abstract
This article aims at analysing the financial and organizational mechanisms of the third sector, namely the non-profit organisations (NPOs) and non-governmental organisations (NGOs). In addition, it focuses on the sustainable development of non-profit and non-governmental organizations. The paper shows that in order to achieve sustainable development and embark upon the path of the “green economy”, NPOs and NGOs need to apply effective financial and organisational mechanisms that would also coincide with their regional priorities and socio-economic objectives that would take into account the environmental specifics and priorities of the given region. The article draws various examples and case studies from various countries and regions around the world to prove its points and provide some guidelines for relevant stakeholders and regulators.
Highlights
The sustainability non-profit includes environmental, social, and governance goals, they are fundamental to the organization's purpose, and guide its activities [1]
While systems of managed competition in the private sector are improving significantly, many others are in danger of losing their distinctive public service contracts. It appears that for achieving sustainable development and turning to the “green economy”, non-profit organisations (NPOs) and non-governmental organisations (NGOs) need to apply effective financial and organisational mechanisms that would coincide with their regional priorities and socio-economic objectives that would take into account the environmental specifics and priorities of their regions
The management of fewer large contracts and the management of prime contractors and their subcontractors has adapted to a growing model that uses large capital projects in government contracts
Summary
The sustainability non-profit includes environmental, social, and governance goals, they are fundamental to the organization's purpose, and guide its activities [1]. Today's economy can serve as an opportunity to develop creative and sustainable financing mechanisms to revive non-profit institutions It should focus on developing new creative financing mechanisms that help non-profits become more sustainable in the long term, and allow them to focus their resources more on the important programs and services they provide, rather than on themselves [4]. Its mission has always been to harness the power of the private sector to create a socially just and environmentally sustainable society for the benefit of all Americans, not just the rich and powerful. It is a professional company, institution and organisation that makes sustainable and responsible investments. It is desirable that all of them are regulated and united in their mission to create a central authority that can improve and build better communities
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