Community Foundations Providing Hope — and Dollars — in a Dragging Economy

Some good news in these lean economic times: According to a new report from the Foundation Center, the United States’ 717 grantmaking community foundations doled out a record $4.1 billion last year, up 14 percent over 2006, and nearly two-thirds of the foundations surveyed anticipated giving more in 2008. A Foundation Center official attributed the increases to "strong asset growth, new gifts and bequests from donors, and exceptional disbursements from donor-advised funds." Given the current is-it-a-recession-or-isn’t-it, one wonders whether those trends will continue this year. For nonprofits’ sake, let’s hope so. | 501(c)