A Proposed Framework for Developing Financial Resources of Private Societies

A Case Study of Buraida Family Society

Abstract

The study addressed the basic question of how to raise the financial resources of non-profit private societies using the Buraida Family Society as a case study for this purpose. In this respect a number of relevant factors have been considered such as fixed assets, current assets, liabilities, revenues, etc. The study used descriptive and quantitative analysis methods such as Duncan's test, model of the general trend of growth rate estimates and the model of expectation estimate. Results point to high administrative expenses, inefficient activities, a lack for adequate utilization of endowments and fixed assets and inability to secure adequate finances for the society's projects. The paper recommends the diversification of the societies' investments, conducting feasibility studies, training of employees, getting into profit activities and partnerships with the private sector.