Foundation Center - Press Release - Joan E. Spero Joins the Foundation Center as Visiting Fellow: "Family Foundations Prioritize Giving for the Economically Disadvantaged, New Foundation Center Report Finds
New York, NY — January 29, 2009. Giving by America's family foundations reached over $18 billion in 2007, a 13 percent increase from the previous year, according to the Foundation Center's new report, Key Facts on Family Foundations (2009 Edition). Among a subset of the largest family foundations, 30 percent of their giving provided a specific benefit for the economically disadvantaged.
'Family foundations provide much-needed resources in the best of times,' said Steven Lawrence, the Center's senior director of research. 'The current economic environment will make that support even more critical, especially for those in greatest need.'"
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