Giving by the nation's more than 72,000 grantmaking foundations rose by an estimated 10 percent in 2007 to a record $42.9 billion. Adjusted for inflation, giving grew 6.9 percent. Despite worsening economic prospects in the latter half of the year, double-digit asset growth in 2006 -- resulting from strong stock market gains and a record level of new gifts into foundations -- and continued modest growth in the establishment of new foundations helped to raise the level of foundation giving. Also contributing to a higher overall level of foundation giving in recent years have been higher payout rates -- in part reflecting the establishment of foundations by "younger" donors who are not yet ready to fully endow them -- and the establishment of operating foundations by pharmaceutical manufacturers for the purpose of distributing medications to individuals in need.
- Published by
- Foundation Center
- North America / United States
- Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License
- Linked data add horizontal_rule