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.

LHM