April 9, 2009
Tightening Their Belts
Foundations expect to make grant-making cuts after a sharp drop in assets, Chronicle survey finds
Stock-market volatility has led to a sharp decline in the assets of big foundations, and many grant makers expect to decrease their giving in 2009, a new Chronicle survey finds. However, a small but significant number of grant makers said they are doing more to help charities and Americans hit hard by the recession.
Assets declined a median 28 percent at the 104 foundations that provided data for fiscal 2007 and 2008, meaning that half had a sharper decline and half had a
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