Foundation giving holds steady in 2002
From Mon 3/31/2003 8:51 AM
Although one would have expected giving by foundations to have decreased last year, it has instead held steady according to this New York Times story (registration required):
Grants from the nation's more than 62,000 foundations in 2002 totaled $30.3 billion, basically keeping pace with those in the previous year, according to a survey to be released today by the Foundation Center, a research organization in New York.
But foundation executives and experts on philanthropy are bracing themselves for a decline next year, although no one was willing to guess how sharp reductions would be. Foundation giving did fall by 0.7 percent, a number that was statistically negligible but still the first decrease since 1983, after six consecutive years of double-digit growth.