because the grant crowds out the fund-raising of the charities who, after getting the grant, reduce efforts of fund-raising … (fund-raising crowd out)? This is the first paper to separate these two effects. Using a panel of more than 8,000 charities …, we find that crowding out is significant, at about 72 percent. We find this crowding out is due primarily to reduced fund-raising …

because the grant crowds out the fund-raising of the charities who, after getting the grant, reduce efforts of fund-raising … (fund-raising crowd out)? This is the first paper to separate these two effects. Using a panel of more than 8,000 charities …, we find that crowding out is significant, at about 72 percent. We find this crowding out is due primarily to reduced fund-raising …

contributions. Common in charitable fundraising during capital campaigns is seed money, either from a government grant or from a … basis for fundraisers and seeds to charity. The primary assumption that is added to the standard model of privately provided … public goods is simply that the charity has fixed costs. With this it is shown that fundraisers have a natural and important …