Colorado nonprofits are feeling the benefits of growing foundation and corporate giving programs, with increases in the number of funders and amount of funds, a new study says.
Colorado businesses and private and community foundations give $253 million to nonprofits across the state annually, says the study, commissioned by the Colorado Association of Funders.
The number of funders in the state has jumped 112 percent since 1990, and the overall amount granted has doubled, with about 85 percent of funds going to the non-rural areas east of the continental divide, and most of that going to the Denver-metro area.
Fifteen percent of grants are directed to rural areas, up from about 3 percent in 1990.
Human services groups received the most funding among program areas, garnering one in four grant dollars, followed by health, education and children and youth, the study says.
While funding from foundations and corporations is significant and growing, individuals donate the largest amount to charity, followed by government, the study says.