CHRONICLE OF PHILANTHROPY SURVEY REPORTS A DROP IN FUNDATION GIVING IN 2009
Submitted by Tommer on April 1, 2009
Assets at the nation’s largest private foundations fell by a median of 28 percent from 2007 to 2008, and 40 percent of grant makers who participated in a new Chronicle survey say they expect giving to decline in 2009.
The Chronicle’s survey found that 104 of the largest grant makers lost more than $50-billion in assets in 2008. Assets at the 10 wealthiest foundations dropped 22 to 37 percent from December 2007 to December 2008.