Giving by the biggest U.S. foundations grew by 22 percent to a record $10 billion dollars in 1998, says a new study by the Foundation Center.
Smaller foundations reported an 18 percent growth in grants, The Chronicle of Philanthropy reports.
Giving by the top 2 percent of U.S. foundations increased by almost $2 billion in 1997-1998, while the number of grants grew by 13 percent.
Of those grants, 350 totaled $2.5 million or more.
Almost every type of nonprofit enterprise enjoyed an increase in grant dollars in 1998, with education capturing the largest share — $2.4 billion.
The study also found that while foundations made education their top funding priority, private donors were most likely to give to religious groups.
Foundations, in contrast, contributed only 2 percent of their funds to religious causes.