Community foundations growing

Community foundations throughout the U.S. are seeing strong growth on all fronts, a new study says.

The Columbus Foundation, based in Columbus Ohio, released its annual “Survey of the Community Foundation Field,” which analyzes 2004 data from 636 U.S. community foundations.

Total net assets for the groups surveyed grew 13 percent to $39.4 billion last year, with five foundation reporting assets of $1 billion or more: the New York Community Trust, Cleveland Foundation, Chicago Community Trust, Marin Community Foundation and Tulsa Community Foundation.

Grants totaled $3 billion in 2004, up 14 percent over 2003, gifts from donors grew 9 percent to $4.2 billion, and the group as a whole spent 8 percent of its prior year’s assets, about the same as 2003.

The Tulsa Community Foundation received $272 million in gifts last year, more than any other foundation surveyed, followed by the Peninsula Community Foundation of San Mateo, Calif., with $156.2 million.

The report lists the top 100 foundations by market value of assets, gifts from donors and dollars granted.

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