March 17, 2005

Foundations Inch Up Giving

By Ian Wilhelm

Assets grew last year, but grants won't increase significantly(The original version of this article, as published in the March 17 issue, contained incorrect numbers for the Andrew W. Mellon Foundation. This article has been revised to reflect the new data, which shows that the foundation's assets increased in 2004.)

As the stock market grew steadily for the second consecutive year in 2004, the assets of many of the nation's wealthiest private foundations