California Foundation Assets and Giving Are Greater Than in Early 1990's.News Editors/Business Editors LOS ANGELES--(BUSINESS WIRE)--March 4, 2004 Contrary to public perception, the economic gains by California foundations during the 1990's have not been reversed by the more recent economic downturn, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a new update released today by The Center on Philanthropy philanthropy, the spirit of active goodwill toward others as demonstrated in efforts to promote their welfare. The term is often used interchangeably with charity. and Public Policy at the University of Southern California The U.S. News & World Report ranked USC 27th among all universities in the United States in its 2008 ranking of "America's Best Colleges", also designating it as one of the "most selective universities" for admitting 8,634 of the almost 34,000 who applied for freshman admission . California Foundations: 2000-2001 Update finds that while there have been recent declines in both foundation assets and giving in a falling inwards; a collapse. See also: Giving California, total dollar amounts for both assets and giving are still far greater than they were in the early 1990's. Total assets held by California foundations were $66 billion in 2001, as compared to $20 billion in 1991. Total giving was $3 billion in 2001, as compared to $900 million in 1991. "Our earlier baseline analysis of California foundations found significant growth in assets and giving of the foundations in the state," said James M. Ferris, Director of The Center on Philanthropy and Public Policy at USC An abbreviation for U.S. Code. . "While foundation fortunes have dimmed somewhat since then, these gains have not been erased e·rase tr.v. e·rased, e·ras·ing, e·ras·es 1. a. To remove (something written, for example) by rubbing, wiping, or scraping. b. . Foundations remain strong and vibrant partners in addressing the needs and aspirations aspirations npl → aspiraciones fpl (= ambition); ambición f aspirations npl (= hopes, ambition) → aspirations fpl of the people of California." California Foundations: 2000-2001 Update makes current the 1999 baseline analysis of foundations in the state undertaken by The Center on Philanthropy and Public Policy in cooperation with The Foundation Center. Key findings include: -- While foundation assets and giving remain above 1990 levels, between 2000 and 2001, total foundation assets in California declined by 5.7 percent. The rate of total foundation giving has also fallen dramatically. While foundation giving increased on average 28 percent per year from 1991 to 1999, the growth rate fell to 18.5 percent from 1999 to 2000, and declined to 3.9 percent from 2000 to 2001. -- Foundation assets remain highly concentrated among a relatively small number of foundations. The 35 California foundations with assets of over $250 million held between 63-68 percent of California's foundation assets from 1998-2001. -- The major beneficiaries of California's philanthropic growth are the people of California. Seventy four percent of grants from California foundations went to in-state grant recipients in 2001, up from between 68 and 70 percent from 1998-2000. Complete copies of California Foundations: 2000-2001 Update, are available on the Center's website at www.usc.edu/philanthropy. Members of the news media may also obtain copies by contacting John McDonald John McDonald may refer to:
|
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion