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Theoretical and Applied Economics
No. 1 / 2014 (590)

The role of community foundations in local development – Slovak experience

Ladislav POLIAK
Pavol Jozef Šafárik University in Košice

Abstract. The issue of local development is nowadays very relevant. According to the customary perception in the post-socialistic countries, local development should be ensured primarily by municipalities. Over time, under the influence of various factors, there is a change of paradigm. One of the alternative initiators and implementers of development processes at a local level is the community foundation. The aim of this study is to evaluate the benefits of community foundations in the field of local development. Furthermore, there are discussed the advantages and disadvantages of community foundations. The study provides empirical findings of own research in the field of community foundations within Slovakia. Data was obtained primarily from the questionnaire survey, as well as from own analysis of annual reports and financial statements of community foundations, existing in Slovakia.

Keywords: community foundation, inter-sector cooperation, local development, municipalities.

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