Date of Award


Degree Type


Degree Name

Doctor of Philosophy (PhD)


Public Management and Policy

First Advisor

Janelle Kerlin

Second Advisor

Dennis R. Young

Third Advisor

Bruce A. Seaman

Fourth Advisor

Joannie Tremblay-Boire

Fifth Advisor

Nicholas Harvey


This dissertation focuses on how different resource streams that are extracted from a nonprofit’s environment can impact their financial health. More specifically, I explore the main research question: what are the correlates of arts nonprofits’ financial health? I conduct statistical analyses of original survey data, financial information, and socio-economic data from 2008 to 2013 to test the hypotheses that aligning benefits provided with appropriate revenue sources, supportive socio-economic environments, and collaboration are positively related to financial health, calculated as six measures of long, short, and current-term financial health. Findings indicate that arts nonprofits that matched their benefits with corresponding revenue sources only had higher financial health outcomes when the definition of mixed nonprofits is relaxed. Private arts nonprofits with private funding did have higher equity ratios, although public arts nonprofits with public support had lower equity ratios and change in months of liquidity. Population size and minority residents in a county are negatively associated with months of liquidity. Finally, collaborating arts nonprofits and those that shared financial resources to a greater extent had better financial health outcomes for select measures, although the number of partnerships is not always positively associated with financial health benefits. Results suggest financial health at different time periods have different drivers, and that public and private arts nonprofits have financial health drivers as well. Nonprofit practitioners should examine their portfolio of benefits and revenue, as well as identify current, short, and long-term goals to understand how benefit-revenue alignment, location, and collaboration can impact financial health.