Education Philanthropy Catching a Chill As Economy Cools Charitable Giving
The recession tearing into the U.S. economy is not only straining the public coffers that support K-12 schooling, it’s also taking a toll on education philanthropy.
From family foundations to corporate philanthropies, charitable giving to K-12 education appears to be facing a downturn. Although no national figures are available, many philanthropies—including notable education contributors such as the Eli and Edythe Broad Foundation and the Jack Kent Cooke Foundation—expect to decrease their giving levels this year.
Most grantmakers are expected to meet their current grant commitments, which often span multiple years, but observers and foundation officials say the outlook for education is likely to...
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