Foundation Giving Grew Modestly in 2008 But Declines Expected in 2009, According to New Foundation Center Report

Although foundation giving grew modestly in 2008, it did not grow as much as had been expected due to the extreme nature of the current economic downturn. Just under a third (29 percent) of the more than 1,200 foundations that responded to the Foundation Center's annual "Foundation Giving Forecast Survey" a year ago — before the economic crisis took hold — said they expected to reduce their giving in 2008. But according to findings from the latest survey conducted in early 2009, close to half of the top U.S. funders (47 percent) actually reduced their giving in 2008.