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Tuesday, February 9, 2010
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Non-profits fear charitable giving will be cut by more than 10%Banking and finance industries make up 25% of corporate foundation support, study says
Corporate giving is expected to decline this year, according to a survey released today by The Foundation Center, a New York-based nonprofit service research organization that focuses on philanthropy.
A full 51% of the 109 corporation foundations that responded to a January survey said that they expect to decrease their giving this year. More than 75% of respondents said that they anticipate decreases of more than 10%. The banking and finance industries accounted for about 25% of corporate foundation support in recent years, the report said. Since 2006, inflation-adjusted corporate giving has been relatively flat, the organization found. Last year, 2,500 grant-making corporate foundations gave an estimated $4.4 billion, reflecting a 0.8% increase from 2007.
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