September 19, 2002
Community Funds See Drop in Value of Assets, Study Finds
For the first time since 1994, community foundations lost money on their investments last year, largely because of declines in stock prices, according to a study by the Council on Foundations.
The median return on investment for 2001 was minus 3.9 percent, meaning that half of the foundations surveyed fared worse and half better than that figure.
Despite the decline in the stock market's value, community foundations continued to invest almost two-thirds of their assets in
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