Tuesday, November 22, 2005

Charitable disconnect? - baltimoresun.com

Charitable disconnect? - baltimoresun.com: "re the assets of philanthropic organizations growing at the expense of the poor and low-income people they are often meant to serve? That may depend on where you live. In Maryland, and particularly in Baltimore, philanthropy is more targeted to the neediest residents than in the nation as a whole. That's good, but the need continues to grow.

A report released last week by the Association of Baltimore Area Grantmakers (ABAG) shows that, like many corporations, foundations and other philanthropic organizations have been rebounding from the economic downturn that followed Sept. 11, 2001. Looking at the latest available data for the state, ABAG counted 1,350 foundations in Maryland in 2003 (down slightly from 2002), with total assets of $10.4 billion, a 15 percent increase. Yet total giving by these foundations in 2003 was $640 million, only a 3 percent increase from 2002. Similarly, assets of Baltimore area foundations rose 15 percent in 2003, while giving rose 2 percent."

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