Subject. The article discusses sources of financing the activities of cultural institutions and the concept of public-private targeted financing that enables to accumulate funds from both the State budget and private investments, diversify the sources of income of cultural institutions, and reduce their dependence on government subsidies. Objectives. The study aims to identify key characteristics of public-private endowment funds, their functional role in the modern economic system, and to develop an original model for the formation of endowment capital in the field of culture through public-private partnership. Methods. The study draws on methods of systems, process, statistical and economic analysis. The theoretical basis rests on scholarly works. Additionally, I used statistical reporting data from the Ministry of Culture and the Ministry of Finance of the Russian Federation. Results. The paper analyzed the key aspects of public-private target fund functioning, its potential impact on the stability and independence of cultural institutions. It presented a uniquely designed mechanism for integrating the two types of financial flows to create a public-private endowment, identified prospects for using public-private endowment financing tool in the framework of financial support for the cultural sphere. Conclusions. The findings have the potential for cultural institutions, contributing to strengthening their financial sustainability and expanding the range of possible activities.
Keywords: financing, culture, public-private fund, target capital
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