America’s foundations distributed an estimated record $54.7-billion in 2013 and appear on track for continued growth in 2014, according to a new report.
Despite an uncertain economy, the surging stock market boosted assets of many foundations last year and spurred creation of new charitable trusts, according to Steven Lawrence, author of the report and the research director at the Foundation Center. Foundation giving has climbed 17 percent since 2008.
The report, Key Facts on U.S. Foundations, predicts that foundation giving will grow a few points ahead of inflation in 2014.