Posted on December 16, 2008

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Ford Foundation to Increase Payout in 2009

The Ford Foundation has announced that it will honor all outstanding commitments to its grantees and will increase, in 2009 and 2010, the percentage of its endowment that is paid out in grants.

In a statement on its Web site, the foundation's president, Luis A. Ubiñas, acknowledged that many of the communities served by its grantees face increased hardships and said Ford remains committed to ensuring that its grantees have the resources necessary "to continue the fight for social justice." Ubiñas also noted the foundation's portfolio was "highly liquid" going into the economic downturn, ensuring the foundation's capacity to continue making grants without disruption. The foundation also instituted a series of aggressive internal cost controls early in 2008 that have helped make more funds available for grantmaking.

"The heart of our work has always been the steady commitment to our long-term vision," said Ubiñas. "We believe that this farsighted approach is critical, especially in difficult times. While the foundation's endowment portfolio has been affected by volatility in the financial markets, our first priority is to ensure that our grantees have the resources necessary to continue the fight for social justice."

“Grant Making in Uncertain Economic Times.” Ford Foundation Press Release 12/12/08.

Primary Subject: Philanthropy and Voluntarism
Secondary Subject(s): Economic Crisis
Location(s): National

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