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Saturday, 30th October 2010

Report Shows Heavy Asset Losses by Georgia Foundations at the Start of the Economic Downturn

Report Shows Heavy Asset Losses by Georgia Foundations at the Start of the Economic Downturn
Source: Foundation Center

According to a new report released by the Foundation Center, private foundations in Georgia were not spared the steep drop in assets experienced by foundations nationwide. Key Facts on Georgia Foundations finds that the assets of foundations in Georgia fell 18 percent in 2008 over the previous year (nationally, it was a 17 percent decline). Overall charitable giving by these grantmakers also began to reflect the impact of the economic downturn, slipping 1.6 percent during the same period. Nonetheless, collective giving by the 10 largest foundations in the state increased slightly, to $411 million in 2008 from $406 million in 2007.

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