Minnesota grantmakers are more optimistic about their giving in 2011 than they were at this time last year, a new report from the Minnesota Council on Foundations finds.
According to the 2011 Outlook Report (8 pages, PDF), which is based on a survey of 118 grantmakers representing approximately 65 percent of the grant dollars awarded in the state, foundation giving is expected to stabilize in 2011. Of the funders surveyed, 35 percent expect to boost their giving in 2011, while only 10 percent expect to give less. In contrast, the 2010 Outlook Report found that 30 percent of those surveyed expected to give less, while only 25 percent expected to give more.
The report also found that the state's largest grantmakers (those giving more than $10 million in grants annually) expect their grantmaking levels to hold steady, while smaller (those giving less than $1 million annually) and medium-sized grantmakers (those giving up to $10 million annually) plan to expand their giving this year. In addition, the report found that corporate foundations and giving programs are most likely to keep their grantmaking levels flat, while community and public foundations are more likely to boost giving in 2011.
"When the economic crisis took hold in 2008, no one was sure how long and how bad the downturn would be and what kind of toll it would take on nonprofits," said MCF president Bill King. "It now appears that, while the 'new normal' is challenging, we are moving to more stability in the [new] year."