May 21, 2009
Corporate Grant Makers Decreased Gifts in 2008 and Plan to Do So This Year
Corporate foundations gave an estimated $4.4-billion to charity last year, a 3-percent decline from 2007 after adjusting for inflation, according to a report released last week. And giving this year is expected to decrease again, with slightly more than half of the corporate foundations surveyed anticipating a drop in contributions.
"We're going to see even more of the effects of the economic downturn in 2009," says Steven Lawrence, senior director of research at the Foundation
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