January 26, 2006
IRS Releases Data on Foundations, Charities
Charitable spending by foundations fell in 2002 for the second year in a row, according to a new IRS report.
In 2002, 73,255 private foundations distributed $26.3-billion for grants and other charitable purposes, a decline of 4 percent from the amount awarded in 2001. Foundations spent $27.4-billion in 2001 on charitable activities, a 0.7-percent decrease from 2000. The 2001 decline was the first since the IRS began keeping track in 1985.
The reductions in foundation
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