Le Lézard
Classified in: Business, Covid-19 virus
Subject: SVY

Foundation Source Survey and Q2 Data Reveal Increased Giving in 2020

FAIRFIELD, Conn., Sept. 28, 2020 /PRNewswire/ -- Foundation Source, the nation's largest provider of support services for private foundations, today releases the results of its survey, "2020: The Year That Changed Everything ? How Private Foundations are Meeting this Moment." Additionally, the firm announces data regarding the actual grantmaking behavior of its foundation clients in the second quarter (Q2) of 2020 compared to that of 2019. Both sources reveal substantially increased giving in 2020 and significant changes in how foundations are giving.

"Given the extraordinary challenges of 2020 ? COVID-19, high unemployment, social turmoil ? the entire philanthropic community is under pressure to do more with finite resources," said Susan Friedlander Calzone, chief executive officer of Foundation Source. "Private foundations have been meeting the challenges head-on; they've adapted their strategies and are doing new and amazing things with their philanthropy."

The Foundation Source report is based on survey responses from 105 of the firm's 1,670 private non-operating foundation clients.  Key findings include:

Additionally, Foundation Source Q2 2020 grantmaking data for all clients reveals, when comparing its clients' giving in March-June 2020 to that of March-June 2019, a 45% increase in the total dollar amount granted and a 2% increase in the total number of grants issued. "Our clients' generosity is truly inspiring," Calzone said. "While the number of grants they made increased modestly, the value of those grants spiked considerably in this time of heightened need."

The Q2 2020 data also confirms clients' willingness to try new things to achieve optimal impact with their philanthropy. In particular, granting directly to individuals, a giving capability unique to private foundations, jumped almost 900%. "We've been very impressed with our clients' dedication to making the most of their giving this year ? and beyond," Calzone said. "For some of the foundations, 2020 has been a 'call to action' that has altered their grantmaking not only to address immediate hardships but to ensure funds are deployed as effectively as possible over the long term as well."

Survey Methodology 

The findings in the Foundation Source report are based on the survey responses from 105 of the firm's 1,670 private non-operating foundation clients. The clients voluntarily participated in the survey from Aug. 5-19, 2020.

About Foundation Source (www.foundationsource.com)

Foundation Source is the nation's largest provider of comprehensive support services for private foundations. Our complete outsourced solution includes foundation creation (as needed), administrative support, active compliance monitoring, philanthropic advisory, tax and legal expertise, and online foundation management tools. 

Now in our third decade, Foundation Source provides its services to more than 1,700 family, corporate, and professionally staffed foundations, of all sizes, nationwide. We work in partnership with wealth management firms, law firms, accounting firms, and family offices as well as directly with individuals and families. Foundation Source is headquartered in Fairfield, Connecticut.

SOURCE Foundation Source

These press releases may also interest you

at 18:05
The yeast market is poised to grow by USD 7.06 billion during 2020-2024 progressing at a CAGR of over 9% during the forecast period. The report on the yeast market provides a holistic update, market size and forecast, trends, growth drivers, and...

at 18:01
Zurich North America Insurance and Advisen Ltd. has released the tenth annual Advisen cyber survey of corporate risk managers and insurance buyers revealing current views about information security and cyber risk management. This year's survey...

at 18:00
Steel Dynamics, Inc. today announced third quarter 2020 financial results. The company reported third quarter 2020 net sales of $2.3 billion and net income of $100 million, or $0.47 per diluted share. Excluding the impact from the following item,...

at 18:00
F.N.B. Corporation reported earnings for the third quarter of 2020 with net income available to common stockholders of $80.8 million, or $0.25 per diluted common share. Comparatively, third quarter of 2019 net income available to common stockholders...

at 18:00
By its very nature, technology requires industry players to innovate in order to survive. In fact, technology companies are 12 percent more likely to be disrupted than companies in retail and 25 percent more likely than those in financial services,...

at 18:00
More than 50, 000 people from across the country are expected to take part in Light The Night, Take Back The Light ? an annual flagship event hosted by The Leukemia & Lymphoma Society of Canada (LLSC). For the first time in the organization's...

News published on 28 september 2020 at 12:12 and distributed by: