FUNDRAISING AND PARTICIPATION IN GRANT PROGRAMS AS COMPONENTS OF FINANCIAL SUSTAINABILITY OF HIGHER EDUCATION INSTITUTIONS
Abstract
The article is devoted to the study of fundraising and the participation of higher education institutions (HEIs) in grant programs as key instruments for diversifying financial sources and ensuring their long-term financial stability under conditions of limited budgetary funding. The aim of the study is to substantiate the role of fundraising tools and grant opportunities in shaping sustainable foundations of HEIs’ financial resilience, with a focus on analyzing fundraising practices, synergy with market instruments, and the development of recommendations for integrating these mechanisms into financial strategies. To achieve this aim, the research applies theoretical analysis of academic literature on fundraising in the educational sector, including works by domestic and foreign scholars, as well as systematization of models of financial support for higher education across different countries. The research methods encompass modeling of organizational and economic processes, development of classification schemes, and mathematical formalization of managerial accounting, particularly through the calculation of the break-even point and the guaranteed profit point. The study revealed that fundraising in HEIs functions as a systemic interaction with three groups of investors, contributing not only to the attraction of resources but also to the creation of partnership networks for infrastructure modernization and internationalization. The scientific contribution lies in the proposed model for selecting a fundraising strategy and in the classification of donors according to cooperation potential, which integrates grant activity into a multicomponent financing environment. The proposed algorithm for determining the guaranteed profit point enables the evaluation of the economic feasibility of using combined sources of HEI financing, taking into account marginal income and expenditures while forming financial reserves for strategic development. Prospects for further research include testing the developed models on data from specific Ukrainian HEIs to verify the effectiveness of the algorithms under real-world conditions.
References
Бержанір І. А. Фандрейзинг як інструмент фінансування закладів вищої освіти. Актуальні питання у сучасній науці. 2023. № 12 (18). С. 18-25. DOI: 10.52058/2786-6300-2023-12(18)-18-25
Демченко Т. А. Фандрейзинг як засіб залучення грошових коштів в підприємницькій діяльності та відображення їх в обліку. Наукові перспективи. 2024. № 6 (34). С. 757-769. DOI: 10.52058/2708-7530-2024-6(34)-757-769
Ільченко В. М., Кубай Д. В., Пістунова В. О. Ефективні інструменти та стратегії залучення фінансування через фандрайзинг та грантрайтинг: від ідеї до реалізації. Сталий розвиток економіки. 2024. № 2 (49). С. 213-217. DOI: 10.32782/2308-1988/2024-49-33
Каліна К. Є., Недря К. М., Рибалко Л. С., Трубавіна І. М. Поняття про теоретико-методологічні основи застосування грантів і здійснення фандрайзингової діяльності для українських науковців у сфері педагогіки. Засоби навчальної та науково-дослідної роботи. 2022. № 58. С. 123-134. DOI: 10.34142/2312-1548.2022.58.12
Кобушко Я. В., Майборода О. В. Фандрайзинг як інструмент фінансування закладів вищої освіти. Вісник Сумського державного університету. Серія «Економіка». 2020. № 1. С. 132-140. DOI: 10.21272/1817-9215.2020.1-14
Кузьменко Ю. А., Валюкевич Т. В., Шевченко І. Ю. Грантова діяльність та фандрейзинг закладів вищої освіти. Наука і техніка сьогодні. 2023. № 7 (21). С. 373-382. DOI: 10.52058/2786-6025-2023-7(21)-373-382
Македон В.В. Міжнародні стратегічні альянси компаній: монографія. Дніпропетровськ: ДУЕП, 2010. 304 с.
Македон В. В., Ільченко Н. О. Кон’юнктура світового ринку ІТ-послуг в умовах економіки 4.0. Ефективна економіка. 2021. № 1. DOI: 10.32702/2307-2105-2021.1.8.
Малюхов О. Фандрайзинг в умовах воєнного стану в Україні: теоретичні аспекти. Наукові інновації та передові технології. 2024. № 7 (35). С. 155-168. DOI: 10.52058/2786-5274-2024-7(35)-155-168
Марчук І. П., Тріпак М. М., Петруха С. В., Лаврук О. В. Тимків А. О. Інклюзивність контингенту здобувачів як елемент формульного фінансування закладів вищої освіти. Інклюзія і суспільство. 2023. № 3. С. 12-19. DOI: https://doi.org/10.32782/2787-5137-2023-3-2
Петруха Н., Клименко К., Петруха С. Українська незламність – стійкість державних фінансів в умовах війни. Вчені записки Університету «КРОК». 2024. № 3. С. 56-72. DOI: https://doi.org/10.31732/2663-2209-2024-75-56-72
Соколова А. М. «Сутність та роль фандрайзингу в сучасних реаліях України». Наукові перспективи. 2024. № 12 (54). С. 883-897. DOI: 10.52058/2708-7530-2024-12(54)-883-897
Fleming G. C., Cobb S. A., Watson D., Boklage A., Borrego M., Contreras L., Julien C. Seed Grant Programs to Promote Community Transformation in Higher Education Institutions. Education Sciences. 2024. 14 (10). 1121. DOI: 10.3390/educsci14101121
Madeo E. Fundraising in the Higher Education Context: A Topical and Theoretical Literature Review. Education, Society and Human Studies. 2022. Vol. 3. No 2. P. 1-22. DOI: 10.22158/eshs.v3n2p1
Makedon V., Kostyshyna T., Tuzhylkina O., Stepanova L., Filippov V. Ensuring the efficiency of integration processes in the international corporate sector on the basis of strategic management. Academy of Strategic Management Journal. 2019. Volume 18. Special Issue 1. URL: https://www.abacademies.org/articles/Ensuring-the-efficiency-of-integration-processes-in-the-international-corporate-sector-on-the-basis-of-strategic-management-1939-6104-18-SI-1-452.pdf
Pajak K., Omelyanenko V., Makedon V., Shevchenko V., Ovcharenko I. Raising the level of financial security of the enterprise based on the basic risks differentiation. Journal of Security and Sustainability Issues. 2020. No 10(1). pp. 115-130. https://doi.org/10.9770/jssi.2020.10.1(9).
Pasichnyi R., Serhieiev V., Shevchenko S., Petrukha N., Hryvnak B. Digital transformation of higher education as a driver of Ukraine’s integration into the European educational space. Cadernos De Educação Tecnologia E Sociedade. 2024. Vol. 17. No. se4. Р. 232-245. DOI: https://doi.org/10.14571/brajets.v17.nse4.232-245
Petrukha N., Petrukha S., Karashchenko V., Shuman V., Ptashchenko O. Financing the education and research sector in times of war. Revista Eduweb. 2024. No 18(4). Р. 286-296. DOI: https://doi.org/10.46502/issn.1856-7576/2024.18.04.19
Berzhanir, I. A. (2023). Fandreizynh yak instrument finansuvannia zakladiv vyshchoi osvity [Fundraising as a tool for financing higher education institutions]. Aktualni pytannia u suchasnii nautsi – Current Issues in Modern Science, 12(18), 18–25. https://doi.org/10.52058/2786-6300-2023-12(18)-18-25 (in Ukrainian)
Demchenko, T. A. (2024). Fandreizynh yak zasib zaluchennia hroshovykh koshtiv v pidpryiemnytskii diialnosti ta vidobrazhennia yikh v obliku [Fundraising as a means of attracting funds in entrepreneurial activity and their accounting reflection]. Naukovi perspektyvy – Scientific Perspectives, 6(34), 757–769. https://doi.org/10.52058/2708-7530-2024-6(34)-757-769 (in Ukrainian)
Ilchenko, V. M., Kubai, D. V., & Pistunova, V. O. (2024). Efektyvni instrumenty ta stratehii zaluchennia finansuvannia cherez fandreizynh ta hrantraitynh: vid idei do realizatsii [Effective tools and strategies for attracting funding through fundraising and grant writing: from idea to implementation]. Stalyi rozvytok ekonomiky – Sustainable Economic Development, 2(49), 213–217. https://doi.org/10.32782/2308-1988/2024-49-33 (in Ukrainian)
Kalina, K. Ye., Nedria, K. M., Rybalko, L. S., & Trubavina, I. M. (2022). Poniattia pro teoretyko-metodolohichni osnovy zastosuvannia hrantiv i zdiisnennia fandraizynhovoi diialnosti dlia ukrainskykh naukovtsiv u sferi pedahohiky [Theoretical and methodological foundations of grants and fundraising activities for Ukrainian scholars in pedagogy]. Zasoby navchalnoi ta naukovo-doslidnoi roboty – Means of Educational and Research Work, 58, 123–134. https://doi.org/10.34142/2312-1548.2022.58.12 (in Ukrainian)
Kobushko, Ya. V., & Maiboroda, O. V. (2020). Fandreizynh yak instrument finansuvannia zakladiv vyshchoi osvity [Fundraising as a tool for financing higher education institutions]. Visnyk Sumskoho derzhavnoho universytetu. Seriia “Ekonomika” – Bulletin of Sumy State University. Economics Series, 1, 132–140. https://doi.org/10.21272/1817-9215.2020.1-14 (in Ukrainian)
Kuzmenko, Yu. A., Valiukevych, T. V., & Shevchenko, I. Yu. (2023). Hrantova diialnist ta fandreizynh zakladiv vyshchoi osvity [Grant activities and fundraising of higher education institutions]. Nauka i tekhnika sohodni – Science and Technology Today, 7(21), 373–382. https://doi.org/10.52058/2786-6025-2023-7(21)-373-382 (in Ukrainian)
Makedon, V. V. (2010). Mizhnarodni stratehichni aliansy kompanii [International Strategic Alliances of Companies]. Dnipropetrovsk: DUEP. (in Ukrainian)
Makedon, V. V., & Ilchenko, N. O. (2021). Koniunktura svitovoho rynku IT-posluh v umovakh ekonomiky 4.0 [Conjuncture of the global IT services market in the conditions of Economy 4.0]. Efektyvna ekonomika – Efficient Economy, 1. https://doi.org/10.32702/2307-2105-2021.1.8 (in Ukrainian)
Maliukhov, O. (2024). Fandreizynh v umovakh voiennoho stanu v Ukraini: teoretychni aspekty [Fundraising in martial law conditions in Ukraine: theoretical aspects]. Naukovi innovatsii ta peredovi tekhnolohii – Scientific Innovations and Advanced Technologies, 7(35), 155–168. https://doi.org/10.52058/2786-5274-2024-7(35)-155-168 (in Ukrainian)
Marchuk, I. P., Tripak, M. M., Petrukha, S. V., Lavruk, O. V., & Tymkiv, A. O. (2023). Inkliuzyvnist kontynhentu zdobuvachiv yak element formulnoho finansuvannia zakladiv vyshchoi osvity [Inclusiveness of students as an element of formula funding for higher education institutions]. Inkliuziia i suspilstvo – Inclusion and Society, 3, 12–19. https://doi.org/10.32782/2787-5137-2023-3-2 (in Ukrainian)
Petrukha, N., Klymenko, K., & Petrukha, S. (2024). Ukrainska nezlamnist – stiikist derzhavnykh finansiv v umovakh viiny [Ukrainian resilience – stability of public finances during wartime]. Vcheni zapysky Universytetu “KROK” – Scholarly Notes of KROK University, 3, 56–72. https://doi.org/10.31732/2663-2209-2024-75-56-72 (in Ukrainian)
Sokolova, A. M. (2024). Sutnist ta rol fandreizynhu v suchasnykh realiiakh Ukrainy [The essence and role of fundraising in the modern realities of Ukraine]. Naukovi perspektyvy – Scientific Perspectives, 12(54), 883–897. https://doi.org/10.52058/2708-7530-2024-12(54)-883-897 (in Ukrainian)
Fleming, G. C., Cobb, S. A., Watson, D., Boklage, A., Borrego, M., Contreras, L., & Julien, C. (2024). Seed Grant Programs to Promote Community Transformation in Higher Education Institutions. Education Sciences, 14(10), 1121. https://doi.org/10.3390/educsci14101121
Madeo, E. (2022). Fundraising in the Higher Education Context: A Topical and Theoretical Literature Review. Education, Society and Human Studies, 3(2), 1–22. https://doi.org/10.22158/eshs.v3n2p1
Makedon, V., Kostyshyna, T., Tuzhylkina, O., Stepanova, L., & Filippov, V. (2019). Ensuring the efficiency of integration processes in the international corporate sector on the basis of strategic management. Academy of Strategic Management Journal, 18(SI-1). https://www.abacademies.org/articles/Ensuring-the-efficiency-of-integration-processes-in-the-international-corporate-sector-on-the-basis-of-strategic-management-1939-6104-18-SI-1-452.pdf
Pajak, K., Omelyanenko, V., Makedon, V., Shevchenko, V., Ovcharenko, I. (2020). Raising the level of financial security of the enterprise based on the basic risks differentiation. Journal of Security and Sustainability Issues, №10 (1), 115-130. https://doi.org/10.9770/jssi.2020.10.1(9). (in English).
Pasichnyi, R., Serhieiev, V., Shevchenko, S., Petrukha, N., & Hryvnak, B. (2024). Digital transformation of higher education as a driver of Ukraine’s integration into the European educational space. Cadernos De Educação Tecnologia E Sociedade, 17(se4), 232–245. https://doi.org/10.14571/brajets.v17.nse4.232-245
Petrukha, N., Petrukha, S., Karashchenko, V., Shuman, V., & Ptashchenko, O. (2024). Financing the education and research sector in times of war. Revista Eduweb, 18(4), 286–296. https://doi.org/10.46502/issn.1856-7576/2024.18.04.19
This work is licensed under a Creative Commons Attribution 4.0 International License.
