Corporate foundation giving flat, expected to fall in 2009

The Foundation Center reports that grantmaking by corporate foundations held steady in 2008, but it was unable to keep up with inflation and is expected to fall in 2009.

Much of that decline is due to the effect of the recession on corporate profits, particularly in the banking and financial industries, which have accounted for about a quarter of corporate giving in recent years.Since 1990, giving by corporate foundations has grown at a cumulative rate of 90 percent, significantly slower than community foundations, which posted a growth rate of 479 percent, and independent foundations, whose giving grew 209 percent over the same period.

Corporate foundation giving now accounts for 10 percent of all foundation giving, down from a 17 percent share in 1990.

Share

This entry was posted in Economy and tagged . Bookmark the permalink.

JVA welcomes your comments and feedback on all Nonprofit Street articles. While JVA will post all relevant comments, it will not post comments that are advertising products or services or those with obscenities. Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s