Giving by the nation’s community foundations hit a new record last year, growing significantly faster than independent or corporate foundations, a new report says.
The 700 U.S. community foundations gave a combined $3.2 billion in 2005, 10.9 percent more than the previous year, representing about double the growth of other types of foundations.
The new report released by the Foundation Center says almost one in four grant dollars from community foundations benefited education groups, while a slightly smaller percentage went to human-services agencies.
Community foundations also gave greater shares of their funding to human-services and arts agencies, and gave a larger share of their grant dollars for operating support, than did other types of foundations.
The New York Community Trust gave $139.6 million last year, more than any other community foundation, followed by the Peninsula Community Foundation, with $111 million, and the California Community Foundation, with $91 million.