The third sector and the imperative of professionalization

Abstract

The era of generous philanthropy has led to social responsibility strategies by companies, aligned with corporate values, but also guided by the confidence in the nonprofit organizations, concerning their capacity of effective social return. In order to capture the companies’ attention and survive in a strongly disputed market, the third sector organizations need to learn the best management practices and corporate accountability. Recently, we have been witnessing a growing professionalization in fundraising methods, in marketing and communication strategies, in partnerships with the public and private sectors and also in new financing models such as the Social Stock Exchange, a place to invest in social causes. Understanding and sharing this new funding system in the field of nonprofit organizations can be a clue of new sustainability models for social institutions where social investors and social profit become part of the vocabulary.