Charles Gray

Professor, Finance

cmgray@stthomas.edu

(651) 962-4301

Minneapolis Campus
1000 LaSalle Ave
Terrence Murphy Hall 443M
Minneapolis, MN 55403

A.M., Economics, Washington University
B.A., Social Science, Hendrix College
Ph.D., Economics, Washington University

See publications in UST Research Online

Mel Gray has been teaching economics, strategy and nonprofit management to undergraduate and M.B.A. students for more than 35 years. Previously, he was a staff economist at the Federal Reserve Banks of St. Louis and Minneapolis, and for a Minnesota state agency; he also served as executive director of a nonprofit community development agency. He has been a visiting or adjunct faculty member at Macalester College, Central Michigan University, and the Universities of Oslo, North Carolina, Minnesota, British Columbia and Rochester.

He received a B.A. in social science and math from Hendrix College, and his A.M. and Ph.D. in economics from Washington University in St. Louis. Gray's primary research interests are the nonprofit and creative sectors, especially social entrepreneurship and the nonprofit arts. He has authored or edited three books, including The Economics of Art and Culture with the late James Heilbrun (3rd ed. forthcoming), and his publications include numerous articles and book chapters. He is editor emeritus of Nonprofit Management and Leadership and is a past president of the Association for Cultural Economics, International.

Gray has been a consultant to the U.S. Department of Justice, the National Endowment for the Arts, the District of Columbia, several Minnesota state agencies and numerous companies, nonprofit organizations, law firms and trade associations.

Summer 2015 Courses
Summer 2015 Courses
Crs - Sec Title Days Time Location
GBEC 750 - 202 Intro to Nonprofit Sector - - - - - - - -
Description of course Intro to Nonprofit Sector : CRN: 30553
This course serves as an introduction to the nonprofit sector by providing an overview that includes size, scope, and types of organizations. Also addresses related topics such as charitable behavior and philanthropy, interrelationships among earned and unearned revenue sources, social entrepreneurship, governance and accountability, and interactions with the for-profit and government sectors. Prerequisite: Standard core courses and GBEC 600

Schedule Details

Location Time Day(s)
Fall 2015 Courses
Fall 2015 Courses
Crs - Sec Title Days Time Location
J-Term 2016 Courses
J-Term 2016 Courses
Crs - Sec Title Days Time Location
Academic and Professional Positions
  • FINC / Graduate Economics Adjunct Coordinator, University of St. Thomas, St. Paul / Minneapolis (2007 - present)
  • Adjunct Instructor, University of North Carolina - School of Government, Chapel Hill (2009 - present)
  • Professor, University of St. Thomas, St. Paul / Minneapolis (1992 - present)
  • Visiting Professor, University of Rochester - Simon School of Business and Eastman School of Music, Rochester (2002 - 2002)
  • Visiting Professor, University of North Carolina, Chapel Hill (1993 - 1994)
  • Associate Professor with tenure, University of St. Thomas, St. Paul / Minneapolis (1984 - 1992)
  • Visiting Professor, University of British Columbia Department of Economics, Vancouver (1992 - 1992)
  • Assistant Professor, University of St. Thomas, St. Paul / Minneapolis (1979 - 1984)
  • Senior Research Analyst and Staff Economist, Minnesota Crime Control Planning Board (formerly Governor's Commission on Crime Prevention and Contr, St. Paul (1975 - 1979)
  • Adjunct Instructor, University of St. Thomas, St. Paul / Minneapolis (1976 - 1979)
  • Visiting Instructor, Macalester College, St. Paul (1974 - 1975)
  • Planning Coordinator, Co-CEO, Southside Community Enterprises, Minneapolis (1974 - 1975)
  • Visiting Instructor, Macalester College, St. Paul (1974 - 1975)
  • Economist, Federal Reserve Bank of Mpls, Minneapolis (1973 - 1974)
  • Instructor, Transylvania University, Lexington (1971 - 1973)
  • Regional Economist, Federal Reserve Bank of St. Louis, St. Louis (1969 - 1971)

Professional Memberships
  • American Economic Association
  • American Evaluations Association
  • Association for Cultural Economics
  • Association for Research on Nonprofit Organizations and Voluntary Action
  • International Association for Art & Cultural Management
  • International Society for Third-Sector Research

Professional Service
  • Humanities of Netherlands Organization for Scientific Research (the Dutch Research Council), Reviewer
  • Midwest Center for Nonprofit Leadership,
  • National Center on Nonprofit Enterprise - Academic Advisory,

Public Service
  • Tubman Family Alliance - Strategic Planning, Committee Member

Publications
  • Gray, C. M. (1998). Hope for the future? Childhood exposure to the arts and adult visits to art museums. Journal of Cultural Economics, (22),

Books and Chapters
  • Combs, K. L., & Gray, C. M. (2007). Managerial economics and organizational architecture 4th ed. McGraw-Hill
  • Combs, K. L., Gray, C. M., & Spry, J. A. (2007). Updated managerial economics and organizational architecture test bank. McGraw-Hill
  • Gray, C. M. (2007). Financing Nonprofits: Putting Theory into Practice. In Dennis Young (Ed.), Gifts in kind and other illiquid assets Ch 10 (pp. 227-241). AltaMira Press
  • Oster, S. M., Gray, C. M., & Weinberg, C. (2004). Effective Economic Decision Making by Nonprofit Organizations. In Dennis R. Young (Ed.), Pricing in the nonprofit sector Ch 2 (pp. 27-45). The Foundation Center
  • Gray, C. M. (2002). Handbook of Cultural Economics. In Ruth Towse (Ed.), Public Participation in the Arts. Edward Elgar
  • Gray, C. M., & Heilbrun, J. (2001). The economics of art and culture 2nd ed. Cambridge University Press
  • Gray, C. M., & Heilbrun, J. (1993). The economics of art and culture. Cambridge University Press

Research Interests
  • Economic Markets - Domestic
  • Governance
  • Public Finance
  • Nonprofit Management
  • Social Entrepreneurship

Awards and Honors
  • UST University Scholar award, 2004
  • UST University Scholar award,, 2001
  • UST University Scholar award,, 2002
  • UST University Scholar award,, 2003

Presentations
  • "Social entrepreneurship and hybrid organizations: Reconciling the economic and 'competing logics' perspectives" UMKC Social Entrepreneurship Conference, Kansas City, Missouri, May 01, 2014
  • "Sustainability and social entrepreneurship: Innovation, pro-activeness, risk-taking and organizational effectiveness" Minnesota Council of Nonprofits and Nonprofits Assistance Fund, Brooklyn Center, Minnesota, February 01, 2014
  • "Toward a unified approach to social entre/intrapreneurship: Applying the economics paradigm" ARNOVA - Association for Research on Nonprofit Organizations and Voluntary Action, Hartford, Connecticut, November 01, 2013
  • "The nonprofit performing arts and the good-news-bad-news business cycle: An exploratory study" ARNOVA - Association for Research on Nonprofit Organizations and Voluntary Action, November 01, 2013
  • "Scale and scope in social intrapreneurship: Case study of human service organization" on Nonprofit Competition and Public Policy Conference, Washington, District of Columbia, October 01, 2013
  • "Toward a unified approach to social entre/intrapreneurship: Applying the economics paradigm" Skoll Research Colloquium on Social Entrepreneurship, Oxford, United Kingdom, July 01, 2013
  • "Museum governance in the United States: An economic perspective" Museum Governance International Conference, Kaohsiung City, Taiwan, October 01, 2012
  • "Scale and scope in social intrapreneurship insights from a case study of nonprofit mergers" Skoll Research Symposium on Social Entrepreneurship, Oxford, UK, July 01, 2012
  • "Organizational boundaries in the lively arts: Insights from a pilot case" International Society for Third Sector Research - ISTR, Siena, Italy, July 01, 2012
  • "New institutional economics and the lively arts: Narrative and exploratory case analysis" ISTR - International Society for Third Sector Research, Siena, Italy, July 01, 2012
  • "The arts as a growth engine? Evidence from selected metropolitan areas" The Arts and Economic Development: A National Endowment for the Arts Research and Policy Forum, Washington, DC, May 01, 2012
  • "New institutional economics and the lively arts: Narrative and exploratory case analysis" Association for Research on Nonprofit Organizations and Voluntary Action, Toronto, Canada, November 01, 2011
  • "New institutional economics and the lively arts: Narrative and exploratory case analysis" International Association for Art and Cultural Management, Antwerp, Belgium, July 01, 2011
  • "Lawyer discipline and deterrence: Are ABA sanctions effective?" American Evaluation Association, San Antonio, Texas, November 01, 2010
  • "Budgetary dynamics, financial vulnerability, and organizational survival: A study of medium-size performing arts organizations in a metropolitan market" Association for Cultural Economics, Copenhagen, Denmark, June 01, 2010
  • "Lawyer discipline and deterrence: Are ABA sanctions effective?" ARNOVA Association for Research on Nonprofit Organization and Voluntary Action, Cleveland, Ohio, November 01, 2009
  • "The arts as a growth engine? Evidence from selected metropolitan areas" Case Western Reserve University, September 01, 2009
  • "Financing the performing arts: The U.S. case" International Seminar on Financing the Performing Arts, Bogotá, Colombia, March 01, 2008
  • "Scale, scope, and 'crowding out' in the nonprofit lively arts: Economic analysis of organizations in a geographic market" ARNOVA Association for Research on Nonprofit Organization and Voluntary Action, Atlanta, Georgia, November 01, 2007
  • "Indexing in the publishing value chain: A transactions cost approach" American Association of University Presses, Minneapolis, Minnesota, June 01, 2007
  • "Governance and management in the nonprofit arts: One economist's view" Association for Cultural Economics, International, Vienna, Austria, July 01, 2006
  • "Governance and Architecture in Medium Sized Lively Arts OrganizatioGovernance and architecture in medium sized lively arts organizationss" AIMAC International Association for Art & Cultural Management, Montreal, Canada, January 01, 2005
  • "Strategic pricing in the nonprofit arts: Case study of two orchestras" Biannual ACEI conference, Rotterdam, Netherlands, June 01, 2002
  • "Psychological and economic perspectives on work-family research, and implications for public and organizational policy" International Association for Business & Society, Paris, France, June 01, 1999