Ensuring Factors for Financial Sustainability of the Higher Education Organizations

This article identifies significant factors influencing the financial sustainability of higher education organizations and presents an authorial classification thereof. It is noted that the entire diversity of factors ensuring the sustainability of the university’s economic activities can be expressed through cost and non-financial indicators. Among the former are microeconomic, macroeconomic, and market factors determining the level of income of higher education organizations, their potential revenue streams, key expenditure items, as well as strategies for conducting activities based on the situation in the educational services market. Non-financial factors are subdivided into organizational-legal, political, social, and global categories. They imply an indirect but significant influence on the financial sustainability of an educational organization, regulating its activities through documents, state policies in various spheres, the university’s image in the domestic and global educational environment, etc. The prepared classification of factors provides a visual representation of the components of financial sustainability of higher education organizations, which can be effectively utilized in organizing management by stakeholders.