Grantmakers in the News
July 1, 2004
A survey of fifty independent, community, and corporate foundations in the Atlanta area reveals that their assets and
outlook for giving in 2004 are on the rebound, the Atlanta Business Chronicle reports.
Only two of the twelve foundations that responded to the survey reported that their resources had declined in 2003. At the
other end of the spectrum, the Community Foundation for Greater Atlanta, Inc.
reported that its assets had grown from $366 million in 2002 to $388 million in 2003, while its grantmaking had increased
from $31 million to $38 million. Similarly, the North Georgia Community
Foundation in Gainesville saw its assets grow from $12.6 million in 2002 to $19.5 million in 2003, while its giving
rose from $2.5 million to $3.5 million.
The Turner Foundation, a private foundation that bases its
giving in a particular fiscal year on endowment income for the previous year, experienced the largest drop in assets among
the respondents — from $30.8 million in 2002 to $19.6 million in 2003 — largely due to declines in the value of its stock
holdings, said Devon Finley, the foundation's program officer. As a result, with the exception of multi-year payouts and
some discretionary grants, the foundation, which largely supports environmental and conservation causes, made no new
grants in 2003.
For the full article, see the Atlanta
Business Chronicle Web site.
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