Community Foundation Giving Jumps 14 Percent,
New Foundation Center Report Finds
Support Hits Record High of $4.1 Billion in 2007
New York, NY — May 20, 2007. Estimated giving by the nation's 717 grantmaking community foundations rose 14 percent in 2007 to a record $4.1 billion, according to Key Facts on Community Foundations, a new report from the Foundation Center. Furthermore, nearly two-thirds of the community foundations surveyed expect to increase their giving in 2008.
Other key findings based on final 2006 data include:
- Community foundations accounted for 1 percent of U.S. grantmaking foundations but were responsible for 9 percent of giving
- Forty-two percent of community foundations reported giving away more than $1 million
- The Greater Kansas City Community Foundation ranked first among community foundations by total giving in 2006, awarding more than $172 million
- Education and human services were the top giving priorities of the larger community foundations included in the Center's grants sample
"Since the beginning of the 1990s, community foundation giving has grown more quickly than overall foundation giving in all but two years," said Steven Lawrence, senior director of research at the Foundation Center. "Strong asset growth, new gifts and bequests from donors, and exceptional disbursements from donor-advised funds are the primary factors contributing to these gains."
Giving projections for 2007 are based on responses to the Foundation Center's 2008 "Foundation Giving Forecast Survey" from 214 of the nation's largest community foundations, combined with year-end economic indicators. The outlook for 2008 giving is based on the responses of 197 larger community foundations.
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 57,000 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 375 Cooperating Collections. For more information, please visit foundationcenter.org or call (212) 620-4230.
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