Digest Finance

Fundraising in the Digital Economy

Vol. 24, Iss. 1, MARCH 2019

PDF  Article PDF Version

Received: 1 October 2018

Received in revised form: 24 October 2018

Accepted: 18 November 2018

Available online: 29 March 2019


JEL Classification: H41, L21, L26, L31, L33

Pages: 34-41


Kiseleva T.Yu. Financial University under Government of Russian Federation, Moscow, Russian Federation

ORCID id: not available

Subject Digital economy inevitably influences economic processes, economic agents, institutions, and markets. The economy is still driven by profit-making and non-profit entities, both seeking finance. The research focuses on the formation of financial resources by raising funds, as one of the elements of the financial mechanism used by non-profit entities.
Objectives The research determines the extent to which the digital economy influences non-profit organizations in fundraising activities, i.e. an increase in the number of means to search for financial resources, possibilities of using IT resources for market positioning purposes.
Methods I applied methods of logic and statistical analysis, synthesis, comparison, generalization.
Results Grants and donations are the main form of financial resources non-profit organizations obtain in raising funds. Information on websites of non-profit organizations, social networks, mass media, technological platforms reflects financial technologies streamlining cash flows and their receipt.
Conclusions and Relevance Nowadays non-profit organizations have greater opportunities for informing businesses, individuals and public legal organizations of their existence and activities. Therefore, this helps them raise more free and gratuitous financial resources through technological means of the digital economy. Financial technologies, their efficiency and consequences can be used by managers of non-profit organizations and fundraising specialists when choosing methods to raise funds.

Keywords: digital economy, non-profit organization, fundraising, financial technology, financial resources


  1. Frumina S.V. [Type of financial relations organization as the basic element of the financial mechanism of a nonprofit organization]. Nauchnoe obozrenie = Science Review, 2014, no. 10-1, pp. 127–130. (In Russ.)
  2. Kiseleva T.Yu. [Analyzing the formation and use of financial resources of non-profit organizations in the current circumstances]. Finansovaya analitika: problemy i resheniya = Financial Analytics: Science and Experience, 2016, vol. 9, iss. 2, pp. 43–55. URL: Link (In Russ.)
  3. Frumina S.V., Kiseleva T.Yu., Dzusova S.S. [Some contradictions between the theory and practice of formation of financial resources of the non-profit organizations in the Russian economy]. Izvestiya vysshikh uchebnykh zavedenii. Seriya Ekonomika, finansy i upravlenie proizvodstvom = News of Higher Educational Institutions. Series: Economy, Finance and Production Management, 2014, no. 4, pp. 19–24. (In Russ.)
  4. Guz' N.A. Gosudarstvennoe finansirovanie nekommercheskikh organizatsii: zarubezhnyi opyt. V kn.: Teoriya i praktika finansov nekommercheskikh organizatsii: kollektivnaya monografiya [State funding of non-profit organizations: foreign experience. In: Theory and practice of non-profit organizations' finance: a collective monograph]. Moscow, Ekonomicheskaya Gazeta Publ., 2015, pp. 59–77.
  5. Dubrova M.V. [Ensuring openness and transparency in the financial management of non-profit nongovernmental organizations]. Finansovaya zhizn' = Financial Life, 2016, no. 1, pp. 65–69. (In Russ.)
  6. Markina E.V. [The development of the financial mechanism for budgetary institution operation]. Vestnik Finansovogo universiteta = Bulletin of the Financial University, 2014, no. 4, pp. 23–32. URL: Link (In Russ.)
  7. Gorlova O.S. [The analysis of the financial security mechanism of rendering state and municipal services by budgetary and autonomous institutions]. Ekonomika i upravlenie: problemy, resheniya = Economics and Management: Problems, Solutions, 2013, no. 9, pp. 16–22. (In Russ.)
  8. Grishchenko Yu.I. [Financial state of a non-profit organization: assessment and analysis]. Nekommercheskie organizatsii v Rossii = Non-profit Making Organizations in Russia, 2013, no. 2, pp. 43–48. URL: Link (In Russ.)
  9. Frumina S.V., Kiseleva T.Yu., Dzusova S.S. [Peculiarities of taxation of non-profit organizations in the Russian Federation]. Nalogi i nalogooblozhenie = Taxes and Taxation, 2014, no. 9, pp. 837–845. URL: Link (In Russ.)
  10. Grishchenko A.V. [Theoretical aspects of non-profit organizations taxation]. Nekommercheskie organizatsii v Rossii = Non-profit Making Organizations in Russia, 2013, no. 2, pp. 13–19. URL: Link (In Russ.)
  11. Grishchenko A.V. Nalogovoe regulirovanie deyatel'nosti nekommercheskikh organizatsii: monografiya [Tax regulation of non-profit organizations' activities: a monograph]. Moscow, Finpress Publ., 2016, 272 p.
  12. Grishchenko Yu.I. [Socially oriented non-profit organization as a contractor of public utility services]. Nekommercheskie organizatsii v Rossii = Non-profit Making Organizations in Russia, 2017, no. 5, pp. 46–56. (In Russ.)
  13. Mersiyanova I.V. [The impact of the financing of Russian NCOs on the assessment of their work and economic position]. Grazhdanskoe obshchestvo v Rossii i za rubezhom = Civil Society in Russia and Abroad, 2013, no. 3, pp. 25–31. URL: Link (In Russ.)
  14. Gromova M.N., Mersiyanova I.V. [State support of NCOs and the problem of their efficiency assessment]. Grazhdanskoe obshchestvo v Rossii i za rubezhom = Civil Society in Russia and Abroad, 2016, no. 1, pp. 39–44. (In Russ.)
  15. Aleksandrov D.G., Koroleva T.I. [Social entrepreneurship in the current world]. Ekonomika. Nalogi. Pravo = Economics, Taxes & Law, 2014, no. 4, pp. 45–50. URL: Link (In Russ.)
  16. Grishchenko Yu.I. [Methods of fundraising: theory and practice]. Nekommercheskie organizatsii v Rossii = Non-profit Making Organizations in Russia, 2018, no. 1, pp. 46–56. (In Russ.)
  17. Tsvetkova G.S., Belyaev I.A. [The evolution of technology fundraising]. Ekonomika i biznes: teoriya i praktika = Economy and Business: Theory and Practice, 2016, no. 2, pp. 135–138. URL: Link (In Russ.)
  18. Korneeva I.E. [Fundraising in Russian non-profit organizations: results of an empirical study]. Monitoring obshchestvennogo mneniya: ekonomicheskie i sotsial'nye peremeny = The Monitoring of Public Opinion: Economic and Social Changes, 2016, no. 4, pp. 48–66. URL: Link (In Russ.)
  19. Kletsina A.A. et al. Tendentsii v sovremennom rossiiskom fandraizinge [Tendencies in the current Russian fundraising]. St. Petersburg, TsRNO Publ., 2014, 46 p.
  20. Khodorova Yu., Chertok M. Issledovanie chastnykh pozhertvovanii v Rossii 2014–2015 gg [Research of private donations in Russia in 2014–2015]. Moscow, CAF Russia Publ., 2016, 10 p. URL: Link (In Russ.)

View all articles of issue


ISSN 2311-9438 (Online)
ISSN 2073-8005 (Print)

Journal current issue

Vol. 24, Iss. 3
September 2019