March 12, 2009
America's Biggest Foundations Won't Increase Their Giving in 2009, Says a New Report
In the wake of the tumbling stock market and heavy asset losses suffered by virtually all the nation's wealthiest foundations, only two have said they plan to increase their giving this year, according to a new advisory report by the Foundation Center, in New York.
In his recent "annual letter," the software billionaire Bill Gates said that the Bill & Melinda Gates Foundation will expand its giving in 2009 — despite its assets having plunged some 20 percent. Likewise,
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