The impact of the financial crisis on USA universities as revenue diversifiers

For more than ten years, Universities have experienced an increase in the complexity of their work and the competitive scenario that is very crowded, unstable and rather unforeseeable. On one side, audiences are multiple and always changing in their estimates of relationships with universities. On the other side, universities are always looking for diversified revenues, as public and private grant-makers suffer of budgetary cuttings. The first paragraph is focused on the nonprofit entrepreneur and the university as a nonprofit entrepreneur who diversifies revenues. The second paragraph is mainly concerned on the presentation of revenue diversification in 85 USA universities in 2008-2009, their performances affected by the financial crisis. The third paragraph is a cluster analysis of the sample as for performances of these universities who have sometimes exaggerated the role of investments as a source of income. The analysis will give evidence that revenue diversification through investments caused heavy losses