Private foundations with less than $50 million in assets account for 98% of the approximately 86,000 foundations in the United States; however, data about this “super majority” is scant because most private foundation research looks only at the wealthiest 2% of grantmaking philanthropies.
Foundation Source’s 2014 Annual Report on Private Foundations provides a first look into the 2013 investment and grantmaking performance of private foundations with less than $50 million in assets. It is based on the actual transactions of 714 Foundation Source clients between January 1, 2013 and December 31, 2013.
Top findings include:
- Average foundation endowments grew by 14.1%
- Charitable distributions averaged 7.3% of assets, well in excess of the IRS-mandated 5% payout requirement
- General support grants accounted for nearly half of giving by foundations with less than $10 million
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