Endowment Earnings Make Up Lost Ground in 2009 but Still Fall Short of 2007 Levels

Foundation and charity endowments grew by an average of 21 percent last fiscal year, but that was not enough to make up for the sharp declines of 2008, according to two studies by the Commonfund Institute.

More than 170 grant makers in one survey saw their investments increase by an average of 20.9 percent, compared with a 26-percent drop in 2008. In a separate study, 66 cultural, religious, and social-service groups recorded very similar returns in their endowments.