Foundations Announce Expectations for Future Giving in Light of Economic Conditions

To keep giving stable in the face of shrinking endowments and assets, 10 large foundations are planning to increase their payout rates or establish cost-cutting measures such as freezing salaries, leaving staff vacancies unfilled, or reducing staff benefits. The Hewlett, Packard, and McKnight foundations have stated that they will reduce giving but will increase their payout rates to limit the amount of the reductions.