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By Joe Kimball | Published Thu, Jun 25 2009 11:56 am
A survey released today by the Minnesota Council on Foundations says grantmakers in Minnesota have become less optimistic about maintaining their giving levels through the remainder of 2009.
Results of surveys conducted in March 2009 and November 2008 asked respondents to anticipate their giving in 2009, compared with the previous year’s level. The findings:
• Expect to decrease giving: 52% (March) compared with 40% (November)
• Expect to remain the same: 31% (March) compared with 41% (November)
• Expect to increase: 17% (March) compared with 15% (November)
Still, Minnesota fared better than the country as a whole:
Survey respondents expecting to decrease their giving in 2009, compared with 2008:
Minnesota: 52%
U.S.: 62%
Bill King, president of MCF said: “The philanthropic community here in Minnesota accounts for nearly $1 billion annually in grants, so it’s critical that we know how these funders are faring as they experience asset declines in this economy. While we in Minnesota are more hopeful that decreases in grantmaking will not be as steep as they will be for funders elsewhere, the change in what Minnesota funders are anticipating for the rest of this year presents challenges.
“Eighty-one percent of our survey respondents said they are providing aid to families, assisting the lower-income population or supporting human services or economic development. For 11 percent of grantmakers, these efforts are a new focus in 2009,” he said.
Nationally, only 6 percent of grantmakers say responding to the economic downturn is a new focus this year.
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