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Foundation Endowments Dropped by 26% in 2008
Grant makers' endowments plunged by 26 percent last year as the stock market fell to levels not seen in years, according to a new study by the Commonfund Institute.
That was a sharply different picture than in 2007, when endowments grew by 9.9 percent. But foundations' returns still compared favorably to the overall performance of the...