O papel dos fundos endowment no Brasiluma análise do impacto na sustentabilidade financeira das organizações da sociedade civil

Resumo

This dissertation addresses the impact of endowment funds on the financial sustainability of Civil Society Organizations (CSO) in Brazil, investigating the determining factors for the performance of these funds. The objective of the study is to understand how these funds contribute to the financial sustainability of CSO and to identify the key elements that affect their performance. For this, a qualitative, constructivist, and comparative research approach is used, based on data collected from a sample of CSO that adopted this financing model. The chosen methodology, based on Qualitative Comparative Analysis (QCA), allows for the identification of combinations of conditions that lead to the success or failure of endowment funds. Aspects such as dependence on income sources, existence of a profitability targets, spending policy limited to the fund profitability, diversification of the investment portfolio, presence of an investment committee, and internal team involved with the financial management were analyzed. The analysis indicates that dependence on income sources, existence of a profitability targets, and spending policy limited to the fund profitability are central factors for the success of the funds, while the diversification of the investment portfolio appears as a less determining condition. The presence of an investment committee and an internal financial management team, although relevant, play a peripheral role in the performance of endowment funds. In conclusion, endowment funds in Brazil have the potential to support the financial sustainability of CSOs but still face challenges related to management.

Ficha do documento

Tipo

Dissertação

Ano

2024

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/36013

Temas

Meio Ambiente

Palavras-chave

Fundos endowmentFundos patrimoniaisOrganizações da Sociedade Civil (OSC)Sustentabilidade financeiraQualitative Comparative Analysis (QCA)Endowment fundsCivil Society Organizations (CSO)Nonprofit organizationsFinancial sustainabilityAdministração de empresasAssociações sem fins lucrativos - FinançasTerceiro setorAdministração financeiraLevantamento de fundos