Grants Under $1m. Rise Significantly
Hard data shows that foundations led by individuals and families stepped up during hard times as grants under $1M grew by 15% in 2009.
Foundation Source, a leading U.S. provider of support services for private foundations, announced a significant increase in giving by its foundation clients in 2009. According to data collected from nearly 700 foundation clients, the number and size of grants under $1 million grew by 15% over the previous year. This runs counter to a broader trend among large, institutional foundations as recently reported in the Foundation Center‘s 2010 “Foundation Giving Forecast Survey.”
According to Foundation Source President Andrew Bangser, “The survey conducted by the Foundation Center showed an overall decline in 2009 giving as might be expected during a recession. Because the sample was skewed toward larger, institutional foundations, their findings did not reveal a fascinating trend among small to medium size foundations led by individuals and families. This important subset of the foundation world actually increased their giving by 15% in 2009.”
According to Bangser, Foundation Source’s findings were drawn from real-time data captured as the company processes grants for its client foundations, rather than survey responses. Foundation Source plans to continue to report similar data about its family and donor led foundation clients throughout 2010.