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November 17, 2009, 01:09 PM ET
Major Maine Foundations Buck National Giving Decline
Belt-tightening has helped prominent Maine foundations maintain their giving this year despite the weak economy, bucking a national trend, reports the Portland Press Herald.
The Maine Community Foundation, which had expected to cut back in 2009 in the face of endowment losses, has instead increased grants 2.5 percent this year, thanks to lower administrative costs and higher donations. The Libra Foundation has also maintained giving, thanks to reduced overhead and profits on economic-development projects.
Read more in The Chronicle of Philanthropy about declines in foundation giving nationally.
(A paid subscription or temporary pass is required to view the Chronicle article.)
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