Despite economic turmoil, Canadians gave $346 million to community foundations in 2007, up 28 percent from 2006, a new study says.
The foundations in turn contributed over $175 million to thousands of local charities, says the study by Community Foundations of Canada, the membership organization for 160 community foundations.
The funders’ collective assets grew to $2.89 billion, up from $2.69 million.
Two Canadian community foundations, The Victoria Foundation and The Niagara Community Foundation, roughly doubled their assets last year.
About half the new gifts to the Niagara Community Foundation came in the form of appreciated securities, the report says.