Board and CEO impact on the Nonprofit financial performance: evidence from Italy and Canada

Literature considers three main models of nonprofit sector structure and development: Liberal (Anglo-Saxon), Welfare Partnership (Western European), and Social Democratic (Nordic). Italian and Canadian nonprofit sectors follow two hybrid models: Italian nonprofit sector is a hybrid between the welfare partnership and the social democratic model, Canadian nonprofit sector is a hybrid between the liberal and welfare partnership model. We considered these two contexts for a preliminary and explorative study on board and CEO characteristics of nonprofit organizations (NPOs). We empirically verified that some features of nonprofit governance impact on their financial performances. The presence of active volunteers into board also affects the organizational performance. Differences in the two studied nonprofit contexts have influenced the sampling, the data collection, and the methods of analysis used in this work. Data on Italian and Canadian NPOs are analysed using multiple regression model. Revenues, Fund Raising, and Expenses are used as dependent variable.