Georgia Foundations' Assets Hit $11.5 Billion
According to New Foundation Center Report
New York, NY — October 2, 2008. Assets held by Georgia foundations increased by 30 percent — from $8.8 billion to $11.5 billion — between 2001 and 2006, according to new data released today by the Foundation Center. Key Facts on Georgia Foundations also shows that during this same five-year period, the most recent years for which complete data is available, foundation giving rose just one percent, from $727 million to $736 million.
"To put the small growth in giving for this five-year period in context," said the report's author, Pattie Johnson, director of the Foundation Center's regional center in Atlanta, "in 2001 the amount of giving was exceptionally large — over $100 million more than the previous year — due to several factors, such as giving in the wake of 9/11 and several especially large grants from top funders. These types of variations are not unusual."
Among the major findings detailed in the report:
- The number of Georgia foundations increased by 11 percent from 2001 to 2006.
- The amount of gifts received by Georgia foundations rose by 126 percent during the same period.
- More than half of Georgia foundations give $50,000 or less in grants annually.
- Education remained the top funding priority of Georgia foundations in 2006.
- Capital projects, especially for building and renovation, received 59 percent of grant dollars.
- Between 2005 and 2006, health funding increased 87 percent, while funding for public affairs/society benefit decreased 61 percent.
Regarding the major shifts in the distribution of dollars for health and public affairs between 2005 and 2006, Johnson explained, "The dramatic changes in funding for those subjects illustrate how a few exceptionally large grants in a given year can cause significant year-to-year fluctuations in grant dollars even though the number of grants for the same subject may remain relatively unchanged."
In addition to the Key Facts report, the Foundation Center has also just released the latest edition of its Guide to Georgia Grantmakers on CD-ROM, a database that allows users to search comprehensive descriptions of more than 1,800 Georgia-based grantmakers and nearly 500 funders in 39 other states who award grants to nonprofit organizations in Georgia.
Key Facts on Georgia Foundations can be downloaded at no charge from the Gain Knowledge area of the Foundation Center's web site. The Guide to Georgia Grantmakers on CD-ROM can be used free of charge at the Foundation Center's Atlanta library/learning center or can be purchased at the Foundation Center's online Marketplace.
About the Foundation Center
Established in 1956, and today supported by more than 600 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 philanthropy at every level. The Center's web site receives more than 57,000 visits each day, and thousands of people gain access to free resources in its five regional library/learning centers and its national network of close to 400 Cooperating Collections. For more information, please visit foundationcenter.org or call (212) 620-4230.
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