Foundation Flexibility
In light of today's economic circumstances, some foundations express a willingness to re-visit elements of their agreements with grantees, including grant objectives, timetables and outcomes. For arts and cultural groups, this flexibility has been especially welcome. [more...]
Leadership Succession at Richard King Mellon Foundation
At their annual meeting, the trustees of the Richard King Mellon Foundation, announced the retirement of its long standing chairman, Richard P. Mellon, who will be succeeded in that role by his brother Seward Prosser Mellon. Richard A. Mellon was elected the foundation’s president. [more...]
Pittsburgh Promise Meets First Annual Fundraising Goal
On July 1, The Pittsburgh Promise announced that it had secured more than $15 million in contributions for 2008/09, meeting the condition for a $10 million matching grant from UPMC. GWP members figured prominently among the contributors to the Promise [more...]
Giving Data for 2008 Show A Steep Decline
According to the new edition of Giving USA, Americans’ $307 billion in 2008 charitable contributions represents a 5.7 percent decline from 2007, after allowing for inflation. It is the sharpest drop in the 53 years that Giving USA has tracked charitable giving. Gifts to create or add to private foundations fell an estimated 22 percent – affecting grantmaking capacity for years to come. In one bright spot, giving as a percentage of gross domestic product remained virtually constant at 2.2 percent of GDP. [more...]
The Downturn: Grantmakers Re-Calibrate
Three new reports shed light on how grantmakers are responding to the economic downturn. More than 400 foundations participated in a survey from Council on Foundations in March 2009; [more...]
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