Exploring the Revenue Mix of Nonprofit Organizations -- Does it Relate to Publicness

Nonprofit organizations offer a wide range of goods and services and seek funding from a variety of revenue sources. Our working theory n this paper is that the sources of funding are related to the services a nonprofit provides - specifically whether services are public, private, or mixed in the nature of their benefits. Using multiple subfields from three major fields in the National Taxonomy of Exempt Entities (NTEE), this study divides nonprofits according to service type, and estimates the impact of service character on particular revenue streams and overall level of revenue diversification. Generally, the proportion of revenues generated by program fees is lowest for the category deemed public, highest for those with mostly private benefits, and midway for "mixed" services which are private in character but entail substantial public benefits. Similarly, the more public a nonprofit's services, the greater the proportion of revenues it generates through donations. However, we also identify some puzzling results that suggest the need for continued investigation of the determinants of the sources and mixes of nonprofit income. Working Paper 07-3

The Anatomy of Bank Diversification

We use panel data from nine countries over the period 1996 to 2003 to test how revenue diversi-fication in conjunction with increasing bank size affects bank value. Using a comprehensive framework for bank performance measurement, we find no evidence for a conglomerate discount, unlike studies concerned with industrial firms. Rather, revenue diversification increases bank profitability and is associated with higher market valuation. This performance effect does not depend on whether diversification was achieved through organic growth or through M&A activity

Vulnerability to Poverty: A Microeconometric Approach and Application to the Republic of Haiti

This paper investigates vulnerability to poverty in Haiti. Research in vulnerability in developing countries has been scarce due to the high data requirements of vulnerability studies (e.g. panel or long series of cross-sections). The methodology adopted here allows the assessment of vulnerability to poverty by exploiting the short panel structure of nested data at different levels. The decomposition method reveals that vulnerability in Haiti is largely a rural phenomenon and that schooling correlates negatively with vulnerability. Most importantly, among the different shocks affecting household’s income, it is found that meso-level shocks are in general far more important than covariate shocks. This finding points to some interesting policy implications in decentralizing policies to alleviate vulnerability to poverty.vulnerability, poverty, hierarchical model, Republic of Haiti.

Intermediary perceptions of investment readiness in the social investment market

The ‘social investment market’ (SIM) in the UK is a growth area due to the governments’ focus upon building up the supply-side element of the market over the last decade, often through the direct financing of ‘social and investment finance intermediaries’ (SIFIs). However, this ignores problems that can occur on the demand-side of the SIM, such as a lack of ‘investment readiness’ (IR) amongst social enterprises (SEs) seeking investment. Indeed, whilst there is now a significant body of policy-based and practitioner research exploring the SIM, there remains a paucity of empirical academic research. The research reported in this paper sought to explore SIFI perceptions of what constituted IR in the SIM. Semi-structured interviews were held with the fund managers (or relevant personnel) at 15 SIFIs in order to explore what they believed constituted IR and how they assessed this. The results indicate that the conception of IR in the SIM is similar to that held in mainstream financial markets. The results are discussed in relation to the prior literature and theories of the SIM

Income volatility and insecurity in the U.S., Germany and Britain

Income volatility is studied as a component of economic insecurity using recent data from the Cross National Equivalence File (CNEF). Techniques from the inequality literature are applied to longitudinal household incomes and we refer to the results as measurements of income insecurity. Using this method we examine (i) cross national differences in average insecurity levels, (ii) the effects of taxes and transfers on the insecurity of different income groups and (iii) the relationships between income insecurity and long-run household income. We find that for pre-government incomes Britain exhibits the highest levels of income insecurity, with the U.S. the lowest. However estimates of insecurity in post-government incomes are highest in the U.S. It is shown that insecurity in market incomes is primarily concentrated around low income families and that this pattern is strongest in Germany and weakest in the U.S. Insecurity in post-government incomes is for the most part found to be unrelated to household income.

EPA Guidelines for Regulatory Impact Analysis

On February 17, 1981, the President issued Executive Order 12291 mandating that regulatory agencies must prepare regulatory impact analyses (RIAs) on all major regulations. Before taking action, the agencies must send all RIAs and proposed regulations to the Office of Management and Budget (OMB) for review. These guidelines discuss the analytical techniques that may be used and the information to be developed by the U.S. Environmental Protection Agency when (l) stating the need for the proposed regulatory action; (2) examining alternative approaches to the problem; (3) quantifying benefits and costs and valuing them in dollar terms (where feasible); and (4) evaluating the findings on benefits, costs, and distributional effects. This document provides guidance for preparing Regulatory Impact Analyses. It includes four appendices and one supplement in addition to the main document.

Methods for assessing the contribution of renewable technologies to energy security: the electricity sector of Fiji

In recent years, renewable energy technologies have been advocated in Fiji on the basis that they improve energy security and serve as a risk-mitigation measure against oil price volatility. Despite this, there have been no published attempts to measure the impact of renewable technologies on energy security or to assess the major threats to that security. This analysis is important if the benefits of renewable energy sources in Fiji are to be evaluated adequately. This article considers the key threats to the security of electricity supply in Fiji for grid-connected and off-grid areas and uses these as a basis for a definition of energy security that is relevant to Fiji. It proposes a method for assessing the potential contribution of renewable technologies to the security of electricity supply in Fiji, based on mean-variance portfolio theory used in financial markets

Urban Watershed/Water Body Restoration - The Driving Forces

Urban streams are used for several purposes. Some uses are conflicting and some are complementary. The use of urban water bodies and the resolution of conflicts is driven by anthropogenic and biocentric/ecocentric interests that must be optimized and the conflicts resolved. This article examines and analyzes land ethics (biocentric) and socio-economic (anthropocentric) drives for stream restoration of urban watersheds located in the Milwaukee (WI) metropolitan area. The basins experienced increased flooding, significant degradation of sediment and water quality, and loss of aquatic species, all due to urbanization. It was found that the primary drivers for restoration of urban streams are the ethical attitudes of population towards the ecocentric benefits of restoration in combination with a desire for flood control. A Contingent Valuation Survey of citizens residing in two Milwaukee watersheds revealed that those who see the watershed in ecocentric terms appear to have a greater Willingness to Pay for watershed/water body improvements than those who see the benefits solely in anthropogenic terms of reduction of flood damages

On the Measurement of Long-Term Income Inequality and Income Mobility

This paper proposes a two-step aggregation method for measuring long-term income inequality and income mobility, where mobility is defined as an equalizer of long-term income. The first step consists of aggregating the income stream of each individual into a measure of permanent income, which accounts for the costs associated with income fluctuations and allows for credit market imperfections. The second step aggregates permanent incomes across individuals into measures of social welfare, inequality and mobility. To this end, we employ an axiomatic approach to justify the introduction of a generalized family of rank-dependent measures of inequality, where the distributional weights, as opposed to the Mehran-Yaari family, depend on income shares as well as on population shares. Moreover, a subfamily is shown to be associated with social welfare functions that have intuitively appealing interpretations. Further, the generalized family of inequality measures provides new interpretations of the Gini-coefficient.income inequality, income mobility, social welfare, Gini coefficient, permanent income, credit market, annuity