Assets grow in 2003, grants to rise in 2004, survey says.
[04.13.04] – Assets grew at more than half of foundations in Ohio in 2003, and one of three plans to make more grants in 2004, a survey says.
While assets increased at 56 percent of foundations surveyed, 36 percent reported a drop in assets and 8 percent had no change in 2003, says the survey by the Ohio Grantmakers Forum.
In a 2002 survey, 86 percent of foundations in Ohio reported a drop in assets.
Large foundations with $50 million or more in assets, community foundations and public grantmaking charities posted the biggest increases in 2003, as more than three of four reported more assets.
The growth in foundation assets is due largely to stronger returns in the stock market, the Ohio Grantmakers Forum says.
Among 133 foundations and corporate grantmakers surveyed, 33 percent plan to increase grantmaking in 2004, 54 percent expect to stay flat and 13 percent plan to cut funding.
Nearly half of private and family foundations expect to give more money in 2004, followed by community foundations, public grantmaking charities and corporate grantmakers.