May 2, 2008
Foundations Gave Away Record $43 Billion in 2007
The New York Times reports that foundations had a record year in 2007, giving away almost $43 billion according to estimates by the Foundation Center. The Center also estimates that foundation assets grew to $669.5 billion last year, up from $614.7 billion in 2006, in part based on a record $36.6 billion in new donations. The Center further reports that new grant-making foundations continue to be created, with approximately 1,400 being established in 2006, although that is fewer than half the number established in 2005.
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