Foundation Giving Hit Hard by Economy (Q2 2009)

Foundation Giving Hit Hard by Economy (Q2 2009)

by Tom Wilson Major Gifts Guru

The Chronicle of Philanthropy reported (4/23/09) on a survey conducted of 1,243 of the largest foundations by the Foundation Center.

• 2/3 of large foundations will reduce the number and size of their grants this year
• 46% will reduce the number of new grantees
• In an unusual finding 39% expect to use their endowment principal to make grants

As noted in an earlier post, the impact on foundations has been highly variable. Check with your local foundations to see how they've adjusted.

And, as one foundation executive told be: "Be ready to tell our trustees how you have changed operations and programs to adjust to the new realities of the economy. If you come in acting like it's business as usual, you will be facing some very tough questioning."

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