Foundation giving rose 10 percent in 2007, with 72,000 U.S. foundations awarding a total of more than $42.9 billion to charities, the Foundation Center reported May 3.

An increase in foundation assets and establishment of new grantmaking foundations contributed to the upswing in giving, according to the report, Foundation Growth and Giving Estimates: Current Outlook. Foundation giving increased 7.1 percent in 2006.

Giving by independent and family foundations increased 12.7 percent in 2007, community foundation giving grew by 13.9 percent, and corporate giving rose 6.6 percent. Independent and family foundations represent the vast majority of grantmaking foundations.

More than half of foundations said they planned to increase their giving even more in 2008.