Almost 1,000 new foundations were created in Florida between 2000 and 2004, an increase of almost 40 percent, a new study says.
The Information Resource Center, based in Ft. Lauderdale, and From the Source, based in Coral Gables, Fla., released “Florida’s 21st Century Foundations,” a report examining new foundations and new philanthropic capital formed in Florida since 2000.
The report says a total of 929 foundations were formed between 2000 and 2004, although the number created annually has been dropping over the same time period.
Despite the decline in growth, authors of the report remain optimistic, saying Florida foundations continue to form at a healthy rate.
Over the four-year period studied, the number of new foundations created in Florida grew 38 percent, more than double the growth for the nation as a whole, the study says.
Foundations in South Florida led the way, the report says, representing four in 10 new foundations formed across the state, and accounting for almost two-thirds of assets and giving by new foundations.
Palm Beach County had the highest number of new foundations while Miami-Dade County had the largest amount of assets held in new foundations.
The report also says that while new Florida foundations give more in the categories of education and health, environment and animals, and religion than do foundations nationally, they give less to support human services, social sciences, science and technology, international affairs, and the arts.
About $33 million, or one-third of grant dollars from new foundations, stayed in Florida, the report says.