Foundation Source released a new report, Trends in Private Foundation Investment, on Friday showing that private foundations have overall experienced a strong recovery (up 48%) in asset balances since 2008. The report also finds that endowment gains differ between mid-sized to large foundations ($10M+) and smaller foundations (less than $1M). Assets of the larger foundations showed strong gains while small foundations' assets remained flat likely due to differing distribution behaviors.
GIA Blog
Posted on November 17, 2014 by SuJ'n
Posted on November 17, 2014 by Steve
GuideStar has a new post on its blog from Bo Garner, a CPA on the Not-for-Profit team at PBMares, LLP on the subject of simplifying financial statements. Reading it reminds us of the excellent Web Conference presented back in April of 2011 by Rodney Christopher of Nonprofit Finance Fund.
Posted on November 17, 2014 by Steve
Arlene Goldbard starts an ARTSblog salon on the topic of the aesthetics of social justice art:
The purpose of art is to lay bare the questions which have been hidden by the answers. James Baldwin
Baldwin’s epigram reminds us that to thrive, we must be able to see through imposed realities and prefab solutions. We may be tempted to seek definitive answers, but what we really need now is to live into the questions.
Posted on November 11, 2014 by SuJ'n
Combining data from the United States Department of Agriculture (USDA) Economic Research Service (ERS) Creative Class County Codes and the Census Bureau's 2007-11 American Community Survey, Tim Wojan of the USDA ERS reports comparative data on the economic resilience of creative class workers in metro vs. non-metro counties.
From Wojan:
Creative class counties were more likely to be classified as resilient than their non-creative class peers. That is, a higher share of creative class counties gained employment in recovery after losing employment in recession. However, the percentage of metro counties classified as resilient was higher than the percentage of nonmetro counties, irrespective of creative class status.
Posted on November 11, 2014 by Steve
From Drew Lindsay, writing for The Chronicle of Philanthropy:
A federal bankruptcy judge (last week) approved a financial reorganization plan for Detroit that relies on nearly a half-billion dollars in philanthropic support to shore up the city’s pension system, protect its world-class art museum, and help lift the city from insolvency. As Detroit emerges from what is America’s largest municipal bankruptcy, some big names in philanthropy will now put their dollars to work in unprecedented fashion — providing a cash infusion to a government pension system. Ten foundations — including the national giants Ford and the John S. and James L. Knight foundations — are moving forward on their pledges to contribute $366-million over 20 years to an $816-million fund that will help the city pay the pensions of its workers and retirees.
Posted on November 10, 2014 by Steve
Over the past 30 years the Getty Foundation, which began as the Getty Grant Program, has continued to shape its grantmaking to respond to the evolving needs of the field. Since 2009 the Foundation has awarded grants primarily through strategic initiatives. Highlights of grants from all 30 years are the Foundation’s anniversary map, which underscores the geographic range of projects. Additional information can be found on the Foundation’s website.
Posted on November 10, 2014 by Steve
Barry Hessenius at Westaf has followed last week’s pre-election analysis with a new post on the elections outcomes:
What the election means in a negative sense for the arts is the elevation of a number of those whose position is that the arts should not be supported by government. That, I categorically oppose, and think its in all of our interests to oppose. I certainly don’t want to give them ammunition of the sort that suggests the Endowment is not a priority issue for the arts, or that its existence and health does not have a major impact on the arts in America. Why do that?
Posted on November 7, 2014 by Steve
From Mark Belko, Pittsburgh Post-Gazette:
Two days after being sold unceremoniously at sheriff’s sale, the August Wilson Center for African American Culture ended up in the hands of three local foundations, its future seemingly secure for the first time in at least a year. Monday’s high drama gave way Wednesday to the ending most had been expecting — with the Pittsburgh Foundation, the Heinz Endowments and the Richard King Mellon Foundation taking control of the Downtown real estate with the intent of preserving the center’s mission as a focal point for African American art and culture.
Posted on November 6, 2014 by Steve
GuideStar, the BBB Wise Giving Alliance, and Charity Navigator don't ever want to hear you say these words again:
“Only X% of your gift goes to overhead.” OR
“Only X cents on the dollar go to overhead costs.”
“Only X cents on the dollar go to overhead costs.”
Why? Because you do both your organization and your donors a great disservice when you focus on overhead as the key indicator of your worthiness to receive donations.
Posted on November 5, 2014 by Steve
According to the new edition of Foundation Center’s Key Facts on U.S. Foundations, the country's 86,192 foundations held $715 billion in assets and distributed a record $52 billion in 2012. This annual research study estimates 2013 giving at $54.7 billion and the outlook for 2014 is for growth to continue ahead of inflation, with independent and family foundations growing at a higher rate than other types of foundations.
Among the key findings in the report:
- In 2012, New York State led the nation in overall foundation giving ($8.7 billion).
- California organizations ranked first in the amount of grant dollars received from the largest U.S. foundations ($2.4 billion).
- The Switzerland-based World Health Organization was the top recipient of international grant dollars in 2012.