South Florida funds shine

South Florida is outpacing the rest of the Sunshine State in the number of new foundations and in their assets and giving, says the first-ever study of philanthropy in the region.

Since 1996, 669 new foundations with more than $2 billion in assets have been created in South Florida, representing 40 percent of 1,688 new foundations in Florida, 69 percent of their assets and 61 percent of their giving, says the study by the Miami-based Donors Forum of South Florida.

Palm Beach County, with 330 new foundations, accounted for nearly half the region’s new foundations, which made grants of more than $129 million in 2001.

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