TCG Bulletin

December 2008, Volume 31, Issue 12

DEVELOPMENT

Several Foundations and Corporations Issue Statements on Grantmaking in the Economic Crisis

Foundations including the California Endowment, the Irvine Foundation, the Kresge Foundation, the MacArthur Foundation, the Robert Wood Johnson Foundation and the William and Flora Hewlett Foundation recently issued statements on how the economic crisis could impact their grantmaking. Most issued statements echo the Kresge Foundation’s president, Rip Rapson, in assuring the public that “like investment portfolios across the country, Kresge’s endowment has been significantly reduced in the last few months. We cannot, however, permit that to obscure the responsibilities to community such considerable resources impart. We will not permit our grantmaking to follow the same yo-yo patterns of the broader markets.”

Recent articles in the Philadelphia Inquirer and Reuters interviewed representatives from the Pew Charitable Trust, the Philadelphia Foundation, the Independence Foundation and the philanthropic arms of Wells Fargo, Bank of America, General Electric, Wachovia, Wal-Mart and Exxon-Mobil. Representatives generally reported expectations that their giving would either remain flat or increase in the coming year. Frank Mantero, a spokesman for General Electric, stressed that “at times like these, corporate social responsibility and philanthropy are more important than ever… The plan is that the budget will remain the same.”

Action: Read the individual statements and articles by clicking on the links in the above article.

Source: Reuters, November 4, 2008

Source: Philadelphia Inquirer, November 12, 2008

Foundation Center Issues Research Advisory on Foundation Giving in Troubled Economies

Authored by Steven Lawrence, senior director of research for the Foundation Center, Do Foundation Giving Priorities Change in Times of Economic Distress is an examination of trends in foundation giving priorities during times of financial difficulty. According to the Research Advisory, while actual dollar amounts of gifts and donations may decrease during times of economic crisis, overall grantmaking priorities do not tend to change significantly.

Action: Visit the Foundation Center website to read the two-page research advisory.

Chronicle of Philanthropy Publishes Survey of Small-Business Philanthropy

A new survey of small-business leaders conducted for the Chronicle of Philanthropy suggests that small business are almost equally as likely to donate cash to charities as they are to donate services or products. Results suggest that personal interests, a charity’s local connection and ease of giving are the most important factors in deciding which groups to support. Many small-business owners (41 percent) say their company is not currently doing enough charitable giving. 28 percent of respondents reported giving to arts institutions.

Action: Visit the Chronicle of Philanthropy website to learn more, and to read the survey’s results (subscription required).

Study of Million Dollar Gift Patterns Finds "Self-Made" Donors Most Likely to Step Up to Major Gifts

A study of million dollar donations conducted by the Center on Philanthropy at Indiana University for the Community Counseling Service Company (CCSC) found that donors of “self-made” wealth were most likely to make charitable donations of $1 million or more, and that community ties, family ties or a relationship with a board member were the most influential factors in making a million dollar gift.

Action: Visit the CCSC website to download a free copy of the report.

Mellon Foundation Awards Major Gifts for New Play Development

The Andrew W. Mellon Foundation recently awarded millions of dollars to playwriting organizations and theatres around the country to encourage the creation of new plays. Recipients were the Lark Play Development Center, New Dramatists, the Sundance Institute Theatre Program, the Playwrights’ Center in Minneapolis and Three-Legged Dog. The Public Theater, the Signature Theatre Company, Playwrights Horizons, Lincoln Center Theater, Steppenwolf Theater Company and Roadside Theater received producing institution grants. Grants ranged from $600,000 to $2 million.

Action: None

Source: New York Times, October 20, 2008

Mixed Blood Theatre Company Receives Major Gift

The Mixed Blood Theatre Company received a $300,000 Excellence Award from the Wallace Foundation for seeking to broaden the theatre’s audience participation among Latinos and people with disabilities.

Action: None

Next Section: Management

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