Sermon Central
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Giving By Foundations Hit A Record Last Year, ...
Contributed by Sermon Central on Jan 27, 2006 (message contributor)
Giving By Foundations hit a record last year, reversing 2 years of declines thanks to gains in asset values and continued gifts from philanthropists. The nation’s 66,000 independent, community and corporate foundations gave $32.4 billion in ’04 vs. $30.3 billion in ’03, an inflation adjusted 4.1% increase, estimates the Foundation Center. The increase more than made up for a 2.6% decrease in ’03. Foundation assets climbed 9.5% to $476.7 billion in ‘03, the latest year for which data is available, but short of the $486.1 billion high set in ‘00. Additionally, new foundations were created at a slower pace than in the past decade. (NY Times 4/4/05)
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