Untitled Document: "; Establishment of New Foundations, Pharmaceutical Foundations Contributed to Higher Level of Giving
NEW YORK, April 3 (AScribe Newswire) -- Giving by the nation's 71,000 grantmaking foundations rose to $40.7 billion in 2006, according to 'Foundation Growth and Giving Estimates: Current Outlook' (2007 Edition), released today by the Foundation Center. This estimated 11.7 percent gain followed a 14.3 percent increase in 2005. U.S. foundations last reported consecutive years of double-digit growth in giving during the period 1996 to 2001. Looking ahead, grantmakers appeared optimistic about continued funding increases in 2007."
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