Drop in Foundation Giving May Be Steeper Than Anticipated, Report Finds

From PND News:

A new research advisory from the Foundation Center suggests that foundation giving will decline by more than 10 percent in 2009, a bit closer to the high end of the range estimated by the center earlier this year, and that it will fall further in 2010.

Based on a September follow‑up survey of large U.S. foundations, the advisory, Foundations’ Year‑End Outlook for Giving and the Sector, found that about 70 percent of the nearly 600 respondents said they expect to distribute what they had budgeted for grants earlier this year, while 20 percent said they would give less than the budgeted amount and only 11 percent said they expected to give more. The advisory also found that more than three‑quarters of foundations said they expect the field of philanthropy to become more strategic as a result of the crisis, citing possible long‑term changes in governance, grantee relations, and investments, while most agreed that the nonprofits that survive the crisis will emerge stronger than before. Still, some funders expressed concern that nonprofits were not using the crisis as an opportunity to review and rethink their activities.

“Foundations will be giving less than they expected at the beginning of the year,” said Foundation Center president Bradford K. Smith. “But many are rethinking their grantmaking so that fewer dollars will not necessarily mean less impact.”

“Decline in 2009 Foundation Giving Steeper Than Anticipated,
According to New Foundation Center Survey.”
Foundation Center

Source: PND News: Drop in Foundation Giving May Be Steeper Than Anticipated, Report Finds

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