Giving by small and medium-size foundations led by individuals and families grew 15 percent in 2009, a new analysis says.
That rate of growth, based on an analysis of data from nearly 700 foundation clients by Foundation Source, represents the increase both in the number and size of grants under $1 million.
It also compares with a drop of 18.4 percent in grantmaking by all U.S. foundations reported earlier this year by the Foundation Center.
The sample for that study was “skewed toward larger, institutional foundations,” Andrew Bangser, president of Foundation Source, says in a statement.
Page Snow, chief philanthropic officer at Foundation Source, says the group’s data show that foundations led by individuals and families “stepped up in a big way during a difficult year.”