Abstract
This article represents a initial observation on implementing a value management concept for non-profit organizations. Introducing strategic management in non-profit companies is becoming inevitable in order to build up their competitiveness on the non-profit services market. In the first part of this article the key stakeholders of non-profit organizations are identified. The second part is an attempt to present the principal value drivers of non-profit organizations. The groups of key stakeholders that are the most important recipients of the value created by the individual drivers have been assigned to the principal value drivers.