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 grantmaking philanthropies.
Foundation Source’s 2013 Annual Report on Private Foundations provides a first look into the 2012 investment and grantmaking performance of private foundations with less than $50 million in assets. It is based on the actual transactions of 732 Foundation Source clients between January 1, 2011 and December 31, 2012.
This latest Report shows a marked 9.2% increase in giving over 2011, fueled by a rebounding market and donors making new contributions to their own foundation endowments.
Other top findings include:
- Foundation endowments grew by 10%.
- Foundations added $1.06 to their endowments for every dollar spent on grants and charitable expenses.
- Charitable distributions were more than twice the IRS-mandated 5% of assets