Annual Survey of 600 U.S. Community Foundations Reports on Sector’s Growth
COLUMBUS, Ohio, Oct. 10 -- Gifts, grants, and assets of the community foundation field increased in 2004, according to the annual Columbus Foundation Survey of the Community Foundation Field, issued today. Overall, the community foundation field continues to experience gains in popularity as a preferred vehicle for charitable giving to communities large and small across America.
Community foundations make up one of the fastest growing sectors of philanthropy in the United States today. The survey of 636 U.S. community foundations reported a total of $4.2 billion in gifts received from donors, $3 billion in grants made to non-profit organizations, and growth in market value of assets to $39.4 billion.
"Behind these numbers are the human stories of donors who are moved to share their generosity with others" said Douglas F. Kridler, president and CEO of The Columbus Foundation, which has conducted this survey for the field since 1988.
Gifts by donors to community foundations increased by 9 percent in 2004, reaching a total of $4.2 billion, up from $3.8 billion in 2003. The Tulsa Community Foundation, created in 1998, reported $272 million in gifts, and led the nation in gifts for a fourth year. The Peninsula Community Foundation ranked second with gifts of $156.2 million, followed by the Community Foundation of Silicon Valley with gifts of $137.1 million.
Grants made by the field totaled $3 billion, up 14 percent and $371 million more than the previous year’s total of $2.6 billion. Since 1996, the first year the field made grants totaling $1 billion, the annual grant distributions have tripled. Income available for grant making is a function of assets held and the spending policies on those assets. In 2004 grant making, the field maintained a spending pace of eight percent of the prior year’s market value.
The field’s net assets increased to $39.4 billion, up 13 percent from the previous year’s total of $34.9 billion. Foundations holding more than $1 billion in assets include The New York Community Trust, The Cleveland Foundation, Chicago Community Trust, Marin Community Foundation, and, as of this year, the Tulsa Community Foundation. These five foundations collectively hold 15 percent of assets held by the entire field.
The survey includes 2004 data or the most recent fiscal year for which market value information, and current gift and grant data. To view the survey, visit http://www.columbusfoundation.org.
Community foundations build and strengthen communities by making it possible for a wide range of donors to create unique charitable funds to support the causes they care about. The first community foundation was created 1914; today more than 600 foundations are found in urban and rural communities across the country. To find a U.S. community foundation located near you, visit http://www.cflocate.org.
Top 10 U.S. Community Foundations in Gifts Received, 2004
1. Tulsa Community Foundation, Okla. -- $271,579,184
2. Peninsula Community Foundation, Calif. -- $156,274,036
3. Community Foundation Silicon Valley, Calif. -- $137,168,578
4. California Community Foundation -- $132,072,973
5. Greater Kansas City Community Foundation, Mo. -- $131,199,204
6. The Seattle Foundation, Wash. -- $101,118,109
7. Community Foundation for Greater Atlanta, Ga. -- $83,810,214
8. New York Community Trust -- $83,438,578
9. Foundation for the National Capital Region, Washington, D.C. -- $77,852,072
10. Communities Foundation of Texas -- $77,535,000
Top 10 U.S. Community Foundations in Grants Paid, 2004
1. New York Community Trust -- $186,975,604
2. Peninsula Community Foundation, Calif. -- $115,767,740
3. Greater Kansas City Community Foundation, Mo. -- $96,940,946
4. California Community Foundation -- $94,247,440
5. Foundation for the National Capital Region, Washington, D.C. -- $83,251,153
6. Community Foundation Silicon Valley, Calif. -- $75,934,700
7. The Community Foundation of Middle Tennessee -- $67,717,683
8. Communities Foundation of Texas -- $67,639,000
9. The Cleveland Foundation, Ohio -- $62,950,585
10. The San Francisco Foundation, Calif. -- $62,100,000
Top 10 U.S. Community Foundations in Market Value, 2004
1. New York Community Trust -- $1,810,817,540
2. The Cleveland Foundation, Ohio -- $1,632,621,913
3. Chicago Community Trust, Ill. -- $1,324,379,128
4. Tulsa Community Foundation, Okla. -- $1,248,180,848
5. Marin Community Foundation, Calif. -- $1,071,954,000
6. Greater Kansas City Community Foundation, Mo. -- $952,377,250
7. The Columbus Foundation and Affiliated Organizations, Ohio -- $809,783,848
8. The San Francisco Foundation, Calif. -- $809,500,000
9. California Community Foundation -- $754,966,099
10. Community Foundation Silicon Valley, Calif. -- $754,480,764
Source: Columbus Foundation Survey of the Community Foundation Field, 2004
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