Management control system approach in a non-profit organization: fundación academia Europea (Fae) - Colombia

Abstract

The present work project aims to understand the measurement and control management challenges facing social sector and exemplify the impact measurement on non-profit organizations (NPOs). This will be achieved by building a suitable Balance Scorecard (BSC) according to the strategic guideline given by “Fundación Academia Europea (FAE)”, a non-profit organization established in 2021 with the aim of supporting Colombian athletes. A systematic literature review combined with a qualitative content analysis of stakeholders interviews to develop the BSC. The final result is the first FAE ́s BSC giving a guideline to the organization. It was possible to select and organize the priority perspectives for FAE and align the measurements to the organizational mission. However, it is recommended to have a review in two years, to monitor and strengthen the criteria for measuring the quality of the indicators adopted.