February 26, 1998
Foundations' Endowment Explosion
Assets of large funds rise 22%, which means more for grants
The endowments of America's wealthiest private foundations grew by a total of more than 22 per cent last year, thanks to a record-breaking stock market.
A new Chronicle survey has found that the endowments of 121 big private foundations were worth a total of $126.5-billion in 1997, compared with $103.3-billion in 1996.
The increase in assets is expected to trigger a big rise in
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