Georgia Foundations' Assets Increased 58 Percent
Over Five-Year Period,
New Foundation Center Report Finds
New York, NY — September 29, 2009. Assets held by Georgia foundations increased from $8.4 billion to $13.3 billion between 2002 and 2007, according to new data released today by the Foundation Center in Key Facts on Georgia Foundations. The report also shows that in 2007, gifts received by Georgia foundations topped $1 billion for the first time, almost four times the amount for 2002.
"The increases in foundation assets, giving to nonprofits, and gifts to foundations in 2007 were significant and reflect the economy of that five-year timeframe," said the report's author, Pattie Johnson, director of the Foundation Center's regional center in Atlanta. "This report will provide a crucial baseline when we analyze giving and assets for 2008, the year the recession began, and subsequent years."
The lists of top 10 Georgia foundations by total giving and assets saw notable changes for 2007. The O. Wayne Rollins Foundation appeared on both lists for the first time, due to several large bequests that led its assets to grow by more than 300 percent and total giving to increase by more than 700 percent. As a result, several grantmakers moved down in the rankings.
Among the major findings for 2002-2007, the most recent period for which complete data is available:
Key Facts on Georgia Foundations can be downloaded at no charge from the Gain Knowledge area of the Foundation Center's web site.
- The number of Georgia foundations increased by 16 percent, from 1,262 in 2002 to 1,470 in 2007.
- Foundation giving increased by 23 percent in the five-year period.
- Reflecting national patterns, education was the top funding priority of Georgia foundations in 2007.
- The share of grant dollars for public affairs/society benefit increased by almost five percent, due to a number of large grants awarded in 2007, including several multimillion dollar community development grants.
- The Robert W. Woodruff Foundation led the top 10 lists for both total giving and assets.
- More than half of Georgia foundations give $50,000 or less in grants annually.
About the Foundation Center
Established in 1956 and today supported by close to 550 foundations, the Foundation Center is the nation's leading authority on philanthropy, connecting nonprofits and the grantmakers supporting them to tools they can use and information they can trust. The Center maintains the most comprehensive database on U.S. grantmakers and their grants — a robust, accessible knowledge bank for the sector. It also operates research, education, and training programs designed to advance knowledge of philanthropy at every level. Thousands of people visit the Center's web site each day and are served in its five regional library/learning centers and its network of more than 400 funding information centers located in public libraries, community foundations, and educational institutions in every U.S. state and beyond. For more information, please visit foundationcenter.org or call (212) 620-4230.
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