Foundations with assets under $50-million increased their giving by 9 percent last year, according to preliminary findings of a study of 700 small and midsize grant makers released today.
The smallest grant makers increased their giving the fastest, with foundations worth $1-million to $10-million responsible for most of the increase.
That group gave 21.5 percent more to charity than in 2011, according to Foundation Source, an organization that helps grant makers handle administrative issues.
Small and midsize grant makers primarily increased their giving in response to the needs of charities, said King McGlaughon, Foundation Source’s chief executive. Such foundations are unlikely to worry about keeping their assets intact so they can exist forever, unlike big foundations, he said: “These are dynamic institutions that are at the core of community life and community support that are being funded at a high level on an ongoing basis in order to be responsive to the communities they serve.”
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