Monday, October 26, 2009

Community Foundations Lost Value Last Year

The Council on Foundations recently reported that assets held by community foundations decreased in value by 27% in 2008. This is a significant shift for these grant makers, as the previous five years showed positive returns. This is certainly not surprising in light of the economic downturn; on a positive note, many foundations are already reporting gains of at least 15% in 2009. The findings come from a survey of 200 community foundations with assets of at least $5 million, representing more than half of such grant makers in the country.

To view the ratings of community foundations evaluated by Charity Navigator, click here.

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