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Foundation Giving Expected to Rise in 2011, Study Finds
Foundations expect to increase their giving in 2011 by sums that could allow them to surpass the amount they distributed before the recession caused a sharp decline in grant making, according to a new report.
Grant makers gave an estimated $45.7-billion in 2010, according to figures released on Thursday by the Foundation Center, a nonprofit research organization in New York. That is about the same as last year and just 2.4 percent below the $46.8-billion given in 2008, which was a record high.
Foundations in the survey predicted they would increase grants by 2 to 4 percent this year, which means giving could near or pass its 2008 peak, according to the center.
“Over half of foundations we surveyed expect to increase their giving this year,” said Steven Lawrence, senior director of research at the Foundation Center and principal author of the report. “These additional dollars will help to seed the many promising endeavors put on hold during the depths of the economic crisis.”
Read the rest of the story at The Chronicle of Philanthropy