Education

A Downturn in Grants

November 06, 2002 1 min read
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Many foundations’ assets have decreased because of the downturn in the stock market, and many grantmaking budgets have also seen significant declines.

Name Assets at End of Fiscal 2000 Assets at End of Fiscal 2001 Current Assets Fiscal 2001 Grantmaking Budget Fiscal 2002 Grantmaking Budget Fiscal Year Ending Date
Carnegie Corp. of New York $1.9 billion $1.7 billion Not Available $84 million $84 million

Sept. 30

Ford Foundation $14.5 billion $10.7 billion $9 billion $901 million1 $560 million Sept. 30
Gates Foundation $21.8 billion $24.4 billion $24.1 billion $1.1 billion $670.7 million2 Dec. 31
Gund Foundation $408.7 million $427.8 million $400 million $20 million $19 million Dec. 31
Hewlett Foundation $3.7 billion $5.9 billion $4.7 billion $226 million $195 million Dec. 31
Kellogg Foundation & Kellogg Trust $4.9 billion $5.7 billion $5.5 billion $223.1 million $221.5 million Aug. 31
Lilly Endowment $15.6 billion $12.8 billion Not Available $594.1 million $579 million

Dec. 31

Mott Foundation $2.88 billion $2.46 billion $2.16 billion3 $130 million $110 million Dec. 31
Packard Foundation $9.8 billion $6.2 billion $3.7 billion $450 million $250 million Dec. 31
Panasonic Foundation $22.7 million $21.5 million $19.5 million $1.8 million $1.5 million Dec. 31
Pew Charitable Trusts $4.8 billion $4.3 billion $4.1 billion3 $238.9 million $150 million Dec. 31
Spencer Foundation $593.3 million $432.4 million $340 million $26.9 million $12 million March 31
1The Ford Foundation’s fiscal 2001 grant total was inflated because it made the largest grant in the foundation’s history ($280 million) in 2001 to create the International Fellowship Program. The fiscal 2002 grant total, $560 million, is roughly the same as in fiscal 1999.
2The Bill & Melinda Gates Foundation’s fiscal 2002 grants shown here are as of Oct. 25. The foundation anticipates that the final grant total for fiscal 2002 will be approximately the same as in fiscal 2001.
3As of 6/30/02

SOURCE: Education Week staff research

A version of this article appeared in the November 06, 2002 edition of Education Week as A Downturn in Grants

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