Alabama Foundation Giving Reaches More Than $145 Million,
Foundation Center Report Finds
Top 10 Givers Account for One Third of Giving
New York, NY — June 18, 2008. Grantmaking by Alabama foundations exceeded $145 million in 2006, according to Key Facts on Alabama Foundations, a Foundation Center report released today. The top 10 givers, which include community, corporate, and independent foundations, gave a total of $53.7 million or just over a third of all Alabama foundation giving. Other key facts highlighted in the report include:
- The foundations surveyed held assets of nearly $2.4 billion.
- The Alabama Power Foundation, Inc., and the Community Foundation of Greater Birmingham held the top spots in both assets and giving.
- Education and human services topped the list of major interest areas for foundations surveyed.
"For years, the number of foundations in the Southeast lagged behind when compared with the growth rate in the rest of the country, but we are catching up. As is true across the U.S., Alabama has seen a huge growth in the number of foundations since 1990; almost half of all Alabama foundations have been established since 1995," said Pattie Johnson, director of the Center's regional office in Atlanta.
"This spike in foundation growth is the kind of philanthropic progress Alabama Giving sought to achieve when it was created seven years ago," said Jera Stribling, director of Alabama Giving, a statewide initiative committed to increasing philanthropy and communicating the value and importance of philanthropy. "We are thrilled to see this growth. Philanthropy is growing throughout the region, but in Alabama we have targeted our efforts to areas of the state that had few endowed foundations as well as pursued companies and individuals that had the potential to participate."
Key Facts on Alabama Foundations was made possible by support from Alabama Giving. It presents a snapshot of activity by 686 independent, corporate, community, and operating foundations in 2006. 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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