Value-for-money and the small charity

Abstract

This article opens a new research pathway by examining value-for-money (VFM) in the charity sector. There is an initial exploration of literature regarding the definitions of VFM and how it is assessed. Research findings highlight that small charities are aware of VFM but do not explicitly operationalize it and have difficulty in assessing it. The authors present original insights into the challenges faced by small charities in defining and assessing VFM and call for the development of an appropriate VFM framework for small charities.