In a year that saw unbounded confidence in the nation's economy turn to increasing uncertainty, U.S. grantmaking foundations raised their contributions to nonprofit organizations a record $4.3 billion, according to a new report from the Foundation Center. Foundations gave an estimated $27.6 billion in 2000, up 18.4 percent (14.6 percent after inflation) over the $23.3 billion in giving now reported for 1999. Overall, giving has doubled since 1996. Community foundations experienced the fastest growth in giving in the latest year, followed closely by independent foundations. However, growth in corporate foundation giving slowed, already reflecting declining corporate profits and stock values.
The nearly one-fifth rise in 2000 giving followed five straight years of double-digit increases in the value of foundation assets. Between 1995 and 1999, foundation assets doubled from $226.7 billion to $448.6 billion. In 1999 alone, assets rose by $63.6 billion, or 16.5 percent. Dramatic gains in the value of holdings of several major independent foundations, new gifts into foundations (including a record $32.1 billion in 1999), and accelerated growth in foundation creation — above 7 percent in 1999 — have all contributed to an unprecedented run up in foundation assets.
These findings are presented in "Foundation Growth and Giving Estimates: 2000 Preview," part of the Foundation Center's Foundations Today Series of annual research reports. This twelve-page summary provides a "first look" at 2000 giving together with aggregate 1999 giving and asset data for the more than 50,000 grantmaking foundations tracked by the Center. Projections for 2000 are based on figures reported by 1,660 large and mid-size foundations, combined with year-end fiscal indicators. The Center will release a more in-depth examination of 1999 foundation growth trends in "Foundation Yearbook: Facts and Figures on Private and Community Foundations," available in June. An analysis of giving by program area in 1999 for a sample of 1,016 larger foundations (accounting for half of all giving) is available in "Foundation Giving Trends: Update on Funding Priorities, 2001 Edition."
Follow the link below to the complete 12-page report (PDF format): http://fdncenter.org/research/trends_analysis/pdf/fgge01.pdf
Or, click here for the press release: http://fdncenter.org/about/news/pr_0012f.html