Studies in Educational Management

This work proposes to study Support Foundations that are private non-profit organizations which support public universities by managing their teaching, research and extension projects. These foundations are inserted as the Third Sector Institutions. The research targets verify if the compliance level affects the surplus probability of support foundations. The sample includes thirty-four support foundations. The accounting statements analyzed were the balance sheet; the deficit and/or surplus demonstration; the statement of changes in shareholders’ equity; the cash flow statement and the explanatory notes for the years 2014, 2015 and 2016. The analysis was performed by a checklist, including 31 (thirty-one) items. It is important to highlight that the data estimation was developed using the logit estimator, on a robust error panel and was included time and state dummies. The results showed that 55% (fifty-five per cent) of the Support Foundations comply with the current legislation. Once foundations are according to the legislation, its surplus probabilities decrease.