'Cautious optimism' for community foundations

While their assets, gifts and grants all grew in 2010 in the wake of the recession, community foundations are walking a fine line between focusing on immediate and long-term needs, a new study says.

Assets at over 250 community foundations participating in the annual survey by the Columbus Foundation grew 13 percent on average in 2010, compared to a decline of 12 percent in 2009.

Yet while nearly one-third of community foundations increased their overall operating expenses by 19 percent on average, roughly one-fourth reduced their expenses by 20 percent on average.