June 25, 2009

Foundation Endowments Dipped in 2008, but Giving Rose

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By CAROLINE PRESTON

Grant makers’ endowments plunged by 26 percent last year as the stock market fell to levels not seen in years, says a new report from the Commonfund Institute.

That was a sharply different picture from the one in 2007, when endowments grew by 9.9 percent. But foundations’ returns still compared favorably to the overall performance of the market.

The report was based on a survey of 221 private

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