Report: Foundation giving jumps sharply
Citing the rising economy and booming stock market as contributing factors, a new report by the Foundation Center finds that the nation's largest foundations have increased their giving by unprecedented amounts.
In the "Foundation Giving Trends: Update on Funding Priorities, 2000 Edition" report, the group of 1,009 foundations studied by the center increased their giving by 22.2 percent in 1998, granting $9.7 billion to nonprofits and various projects. Much of that money was distributed through new grants as well, with the number of grants expanding 12.8 percent.
Other findings in the report include:
The number of grants for more than $5 million doubled in the course of the year, to 147;
While foundations in the Northeast still account for the largest share of grants and grants, the South received the largest share of grant dollars;
Support for education-related efforts grew faster than grantmaking as a whole;
While program support accounted for the largest share of funding, general and operational support grants increased their shares.
The Foundation Center's report is based on a sample of over 97,000 grants of $10,000 or more made by the foundations studied, 800 of which are in the country's top 1,000 foundations ranked by giving.
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http://fdncenter.org/about/news/pr_0001b.html
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