Community Foundations Assets, Giving Increased in 2003 October 29, 2004
Funding Tips & Trends
U.S. community foundations' assets increased 17 percent in 2003, to $34.9 billion, from $29.7 billion in 2002, PNN Online reported Oct. 28. The information comes from a study conducted by the Columbus Foundation of 645 national foundations.
Community foundations received 3.8 billion in gifts in 2003, the study found, up 17 percent from the previous year. Giving increased, as well, with annual distributions of $2.6 billion, up from $2.5 billion in 2002, and California foundations awarding 17 percent of total grants.
The study attributes the gains in assets, gifts, and grants to an improving U.S. economy. Community foundations have more than doubled their annual giving since 1996.
