Thursday, June 25, 2009

Two-thirds of U.S. Foundations Cutting Grants this Year

It comes as no surprise, but two-thirds of U.S. foundations expect to reduce the number or size of the grants they award this year, according to new research by the Foundation Center. The recession's hit to their finances is causing them to try to give in other ways.

The report is based on surveys of more than 1,200 U.S. foundations. Many said they will turn to other activities such as seeking out partnerships and collaboration, advocating on issues and providing technical assistance.

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