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  Press Release

FOR IMMEDIATE RELEASE  

CONTACT:
Maggie Morth
Communications Manager
The Foundation Center
(212) 807-2415
mor@foundationcenter.org

 

Foundation Giving Likely to Remain Stable Despite Economic Downturn, Foundation Center Research Suggests

New York, NY — October 17, 2008. The potential impact of the current economic crisis on foundations and the nonprofits they fund may not be as bleak as some might think, according to a research advisory issued by the Foundation Center. Steven Lawrence, senior director of research, draws upon existing data and research to show that foundation giving has historically remained relatively stable in prior recessionary periods and times of economic distress. He points out a number of factors that tend to moderate the impact of reduced assets on overall foundation giving and offers a less pessimistic view of the future outlook for the philanthropic sector in light of the turbulent financial conditions.

"Foundations are not immune to economic downturns," Lawrence noted. "But we expect that the impact of the current crisis on their overall giving will be far less than current market conditions might suggest."

The advisory is free and available at the Gain Knowledge area of the Center's web site and is also posted on PhilanTopic, its Philanthropy News Digest blog. The Center's Events Archive also features recorded interviews and programs on this subject.

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 close to 400 Cooperating Collections. For more information, please visit foundationcenter.org or call (212) 620-4230.

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