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Economic Bubble Burst’s Impact on Grants

A new report released by the Chronicle of Philanthropy forecasts that grant making will be negatively effected by the current economic downturn.

“An excerpt from the article: Assets and giving at the nation’s wealthiest foundations increased in 2007, a new Chronicle survey finds,but the outlook for 2008 and beyond is considerably gloomier, as the slumping stock market causes the endowments of many grant makers to shrink.”

The article shows that foundations assets rose in 2007, although they rose by only 4.6%, which is less than they did the previous year (7.6%).

This slowed-growth has caused many foundations to change their giving: some plan on making less grants. Still, many of the foundations surveyed said they will continue to make the same amount (or even more) grants in 2008.

Some of the foundations described how they plan on changing the scope of their giving: one in particular has begun making grants to help nonprofits and charities create stronger business plans for a time of economic downturn.

Like many consumers out there, Foundations are taking steps to insure themselves against a large loss of assets due to a recession.

The article goes on to talk about other non-cash grants and includes comprehensive tables of foundations and their assets.

You can find the article online here: Chronicle of Philanthropy
(You may need to register for a free account, but it is well worth it. The Chronicle of Philanthropy is an invaluable resource.

About Katie

the editor of Find Funding. Her writing about grants & nonprofits has been published in Charity Channel's Grants & Foundation Review and NONPROFIT WORLD.

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