Giving by Community Foundations Rises to a Record $3.6 Billion
New York, NY — September 11, 2007. Estimated giving by the nation's 707 community foundations rose to a record $3.6 billion in 2006, according to Key Facts on Community Foundations, a report released today by the Foundation Center.
Key data findings include:
- In 2006, community foundations' estimated giving rose 13.2 percent — surpassing independent and corporate foundations.
- Looking ahead, 60 percent of community foundations responding to the Center's latest forecasting survey expected to increase giving in 2007.
- The community foundations in the Center's grants sample gave proportionately more for human services, the arts, and religion than did independent and corporate foundations in 2005.
In addition, gifts received by community foundations hit a record level of $5.6 billion in 2005 — up 45 percent from the prior year. "Community foundations continue to be an attractive option for many donors," noted Steven Lawrence, senior director of research at the Foundation Center, "especially those wanting to avoid the expense and time commitment associated with maintaining a private foundation."
The report can be downloaded at no charge from the Gain Knowledge area of the Foundation Center's web site.
About the Foundation Center
Established in 1956, and today supported by more than 600 foundations, the Foundation Center is the nation's leading authority on philanthropy, connecting nonprofits and the grantmakers supporting them to tools they can use and information they can trust. The Center maintains the most comprehensive database on U.S. grantmakers and their grants — a robust, accessible knowledge bank for the sector. It also operates research, education, and training programs designed to advance philanthropy at every level. The Center's web site receives more than 47,000 visits each day, and thousands of people gain access to free resources in its five regional library/learning centers and its national network of more than 340 Cooperating Collections. For more information, please visit foundationcenter.org or call (212) 620-4230.
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