MiamiHerald.com | 03/28/2006 | Florida grows new charitable foundations

MiamiHerald.com | 03/28/2006 | Florida grows new charitable foundations: "Florida grows new charitable foundations

Barbara Haar and Chantal Nichtawitz wrote an excellent overview of individual charitable giving in the March 17 Other Views article, Giving time, money for a better South Florida. Missing, however, was the important role of private foundations.

Each year foundations across the United States give billions of dollars in grants to support the important work of charities and nonprofit organizations. We have recently completed a first look at Florida's newly formed foundations and documented that Florida ranked fifth in the number of new private foundations created during the past five years.

Since 2000, 929 new foundations have been formed in Florida. They hold assets of over $1.39 billion. These new foundations made more than $122 million in grants in 2003-2004. Miami-Dade, Broward, Palm Beach and Monroe counties created 376 new foundations, 40 percent of all new foundations in Florida. Together they held $914 million, or 66 percent, of all new assets. Fourteen of the largest 25 foundations are located in South Florida."