Philanthropy Sector Keeps Giving, Despite Recession
Foundations cope with squeeze between falling asset value and higher demand.
September 22, 2009, BusinessNorth Executives — When the stock market dropped 38.5 percent last fall, U.S. foundations lost nearly $200 billion, or 30 percent of their assets. Not only were their own investments affected, but giving from corporations and individuals also declined.
Meanwhile nonprofits that foundations support also were hard-hit by the recession, and grant requests increased.
- Companies:
- BusinessNorth Executives
- Places:
- U.S.
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