Foundation Assets, Giving Wither In Wake of the Stock Market Swoon
Just as many Americans have watched their retirement accounts dwindle because of the vertiginous swoon in stock values, many education grantmakers have seen dramatic decreases in their endowments. As a result, some have had to cut back operating budgets, or refrain from giving the sorts of sizable grants foundations were able to distribute in the late 1990s through 2000.
Nonprofit organizations seeking that grant money have found that while the foundation well has certainly not run dry, and education retains a special allure for givers, the flow of dollars has noticeably ebbed.
"Bleak," Jan Masoaka, the executive director of CompassPoint Nonprofit Services, a consulting and training organization in San Francisco, said of the atmosphere at many education nonprofits....
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