Charitable foundations hit hard | Portland Press Herald: "Maine charitable foundations have been hit hard by the international financial crisis and are likely to cut back on the more than $100 million a year they have been spending in Maine.
The financial crisis has eroded the value of philanthropic endowments, and that may have an impact on grant giving for several years as foundations work to rebuild their base.
'They are taking a beating,' said Janet Henry, president of the Maine Philanthropic Center, of the state's large endowment funds."
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