The New York Times > Business > Giving by Foundations Hits Record $32.4 Billion in '04

The New York Times > Business > Giving by Foundations Hits Record $32.4 Billion in '04: "Giving by Foundations Hits Record $32.4 Billion in '04
By STEPHANIE STROM

Published: April 4, 2005


Giving by foundations hit a record last year, reversing two years of declines thanks to gains in asset values and a continued stream of gifts from philanthropists.
An estimated $32.4 billion spilled out of the nation's roughly 66,000 independent, community and corporate foundations in 2004, compared with $30.3 billion in the prior year, a 4.1 percent increase when adjusted for inflation, according to estimates to be released today by the Foundation Center, which tracks and analyzes grants and asset movements and reports on trends."