From the press release: The recent economic crisis caused the nation’s more than 75,000 grantmaking foundations to cut their 2009 giving by an estimated 8.4 percent–by far the largest decline ever tracked by the Foundation Center. Grant dollars fell from $46.8 billion to $42.9 billion. Yet according to Foundation Growth and Giving Estimates (2010 Edition), released April 16, 2010 by the Foundation Center, this cutback totaled less than half of the 17 percent loss in foundation assets recorded in the prior year.
Other key estimates for 2009 include:
- Independent and family foundations — which represent close to nine out of 10 foundations — reduced their giving 8.9 percent to $30.8 billion in 2009.
- Corporate foundation giving decreased 3.3 percent to $4.4 billion in 2009.
- Community foundation giving declined 9.6 percent to $4.1 billion in 2009, exceeding decreases by independent and corporate foundations.
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