Finally, some good news about philanthropy in the wake of the financial crisis!
- Endowments for charitable institutions grew steadily last year, rebounding from the sharp declines of 2008.
- Despite the rebound, many foundations and charities have still cut back on spending and giving.
- Most foundations (55%) gave less in 2009, but a few (16%) gave more.
Facts and Figures
- Hundreds of grant makers saw their investments increase by about 20% this year (compared to a 26% drop in 2008).
- Charities and foundations carry a median debt of over $20 million.
- 38% of charities spent less in 2009, 20% spent more.