Trust Fund for Future Generations of the Republic of Sakha (Yakutia) as a model institution in the public administration system for human capital formation in the region using business and non-profit sector resources
Subject. The article explores the use of business and non-profit sector resources in public management of human capital formation in the region. Objectives. The purpose is to propose a universal model of extra-budgetary fund to support the sustainable socio-economic development of the subjects of the Russian Federation and identify the key conditions necessary for its creation and successful functioning. Methods. The study rests on the case method, retrospective and systems analyses. Results. The paper analyzes the Trust Fund for Future Generations of the Republic of Sakha (Yakutia), its history, functioning mechanisms, activities, key system projects’ results, their impact on human capital formation; demonstrates that the current concept of the organization's activities meets the objectives and strategic priorities of the region in human capital formation. It offers a universal model of extra-budgetary support for socio-economic development of the region, discusses the key conditions for its application in other regions of the Federation, advantages, main limitations and risks. Conclusions. An instrument of extra-budgetary support for socio-economic development in the form of a special fund that implements social projects through donations from large subsurface user companies operating in the region has a great potential. Furthermore, the fund acts as an institution of public administration for human capital formation in constituent entities of the Russian Federation.
Keywords: public administration, human capital, extra-budgetary fund, non-profit organization, foundation for future generations
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