US foundation giving holds better than assets

US foundation giving holds better than assets

News (International)

A steady level of grant-making by US foundations defied the loss of almost $150 bn (£102 bn) in assets in 2008, a new report reveals.

Giving  by the 75,000 U.S. grant-making foundations in 2008 was around  $45.6 bn (£31 bn), a fall of just 1% in real terms, but assets held by US foundations fell by 24.7% in real terms, Foundation Growth and Giving Estimates 2009, the report from the Foundation Center said.

"Foundations remain one of the few sources of stability for non-profit organisations in this very volatile economic climate,” said Bradford K. Smith, president of the Foundation Center. “However, the longer this crisis persists, the more foundations will have to reduce giving.”

Giving will decrease “in the range of the high single digits to low double digits” in 2009, significantly less than the drop in assets already experienced the report said, based on the centre’s annual “Foundation Giving Forecast Survey”. However, 67% of foundations surveyed for the report said they did anticipate a decrease in their giving in 2009.

The report is available on the Foundation Center website.

  • Philanthropy stats & trends
  • Trusts & foundations
  • International