Foundations in Forsyth and Guilford counties made nearly one-fourth of grants by North Carolina foundations in fiscal 2006, when total grants by state grantmakers totaled over $1 billion for the first time, a new report says.
In fiscal 2006, says the report by NCGives, Forsyth County was home to 401 foundations that controlled nearly $2.6 billion in assets and made $185.7 million in grants, while Guilford County was home to 66 foundations that controlled just over $1 billion in assets and made $62.2 million in grants.
In comparison, Mecklenburg County was home to 144 foundations with nearly $5.1 billion in assets and making $420.2 million in grants; Durham County was home to 19 foundations with $1.1 billion in assets and making $57.9 million in grants; Orange County was home to 22 foundations with $873.2 million in assets and making $31.1 million in grants; and Wake County was home to 53 foundations with $661.2 million in assets and making $58.4 million in grants.
From 1997 to 2006, the number of foundations in the state tripled to 3,031 from 997, while in 2006 alone, foundations’ total assets grew nearly 10 percent to nearly $14.6 billion.
Grants by North Carolina foundations totaled $1.05 billion, according to the report, which was prepared by Anita Gunn-Shirley, assistant director of foundation relations at Duke University Medical Center in Durham.
In 2006, for the first time, social and human services received the biggest share of foundation grants, 37 percent, eclipsing education, which received 32 percent, followed by health care, with 14 percent.
Sixteen of North Carolina’s 50 largest foundations are based in the Triad, the report says.
Those foundations, their assets and grants in fiscal 2006, and their ranking in the state based on assets, include:
* Kate B. Reynolds Charitable Trust, Winston-Salem, $533.7 million, $26.2 million, 6th.
* Z. Smith Reynolds Foundation, Winston-Salem, $426.1 million, $16.6 million, 8th.
* The Winston-Salem Foundation, $244.9 million, $31.3 million, 9th.
* Mary Reynolds Babcock Foundation, Winston-Salem, $173.3 million, $5.2 million, 12th
* Joseph M. Bryan Foundation of Greater Greensboro, $128.1 million, $4 million, 15th.
* Moses Cone-Wesley Long Community Foundation, Greensboro, $122.6 million, $5.6 million, 16th.
* Community Foundation of Greater Greensboro, $102.5 million, $17.4 million, 21nd.
* R.B. Terry Charitable Foundation, High Point, $83.1 million, $5.2 million, 22rd
* Grace Jones Richardson Testamentary Trust, Greensboro, $75.4 million, $1.7 million, 24th.
* The Wachovia Foundation, Winston-Salem, $70.2 million, $57.4 million, 26th.
* H. Smith Richardson Charitable Trust, Greensboro, $61 million, $2.3 million, 30th.
* Edward M. Armfield Sr. Foundation, Greensboro, $57.2 million, $2.2 million, 35th.
* R.J. Reynolds Foundation, Winston-Salem, $52 million, $3.5 million, 39th.
* High Point Community Foundation, $46.7 million, $2.6 million, 41st.
* Cemala Foundation, Greensboro, $43.3 million, $2.8 million, 42nd.
* Hillsdale Fund, Greensboro, $34.5 million, [grants data not included in report], 50th.
While the report says the largest independent foundation in the Triad is the Smith Richardson Foundation, which was formed in Greensboro and still maintains its finance and accounting offices there, the $712 million-asset foundation actually is based in Westport, Conn.
In addition to the Moses Cone-Wesley Long Community Health Foundation, the largest foundation in the state established through hospital mergers, the Triad also is home to the fourth-largest foundation formed through a health-care conversion, the Annie Penn Community Trust in Reidsville, with $32.6 million in assets and $1.4 million in grants.