| With the social transformation and economic development, our society emerged a large number of non-governmental, non-profit, public welfare funds. By the end of 2014,our country have 4864 funds, and their business activities involve in education,science and technology,health, culture,sports and other fields. Because of their professionalism, these funds show their unique advantages in the integration of social resources, participating in social governance, providing public services, etc. However, it must be admitted that Chinese funds as a whole are still in the primary stage.In the development process of these funds,there are still many factors that restrict their development.Among them,the most prominent is the issue of financing. The phenomenon such as financing difficulties, small scale of financing, low efficiency of financing, financing of large differences widely exist. But for these funds, good financing ability is the premise to ensure their healthy development and participation in social governance. So it is of great theoretical and practical significance to explore the factors that affect the ability of the financing.This paper from the perspective of funds, studied the direct and internal factor, classified these factors and constructed the model, and then through empirical research to verify. Firstly, this paper combed and identified the related concepts and theory for the fund and the ability of financing.On the basis of existing research results and combined with the index that established by the Ministry of civil affairs, this paper divided these internal factors into four aspects: organizational characteristics, capacity building, job performance and social evaluation. The organizational characteristics included 5 indicators, such as, the type of fund, length of organization, fund-raising range. Capacity building included 11 indicators, such as, the number of full-time staff, the number of volunteers, the size of the council. Job performance included 5 indicators, such as, project investment, organization scale, and public welfare. Social evaluation included 3 indicators, such as, the influence of public welfare, assessment level, and information disclosure. After the construction of the index system, this paper put forward the research hypothesis and established the research model of this paper. This paper selected 400 funds that announced in 2014 by Foundation Center Network for research samples, through descriptive statistical analysis, correlation coefficient analysis and regression analysis to verify the research hypothesis. The results of the empirical analysis showed that: in terms of organizational characteristics, the type of foundation, the range of fundraising, the use of the website and the qualifications of the fund had a significant impact on the fund’s ability to raise funds. The relationship between the period establishment of funds and the total income of funds is not significant. In terms of capacity building, the number of full-time employees, the size of the board of directors, the size of the board of supervisors and the average age of the board of directors had a significant impact on the financing ability. Other indicators had no significant impact on the financing ability. In terms of job performance, in addition to the fund raising cost, a single project investment, organizational assets, public welfare and development speed had a significant impact on the financing ability. But the fund raising cost had no significant impact on the financing ability. In terms of social evaluation the transparency of the fund and the evaluation level had a significant impact on the financing ability. But the fund’s public influence had no significant relationship with the financing ability. Finally, based on the empirical analysis, this paper put forward suggestions to improve the financing capacity of the fund, and pointed out the shortcomings and prospects of this study. |
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