June 23, 2006
Investment Returns Drop at Foundations
The country's foundations had an average annual return of 8.1 percent in the 2005 fiscal year, a sharp drop from the 11.4 percent they earned in the previous year, according to a report released this month by the Commonfund Institute.
The fiscal health of foundations is important to higher education, which received more than 27 percent of its private donations from foundations in the 2005 fiscal year, according to the Council for Aid to Education's Voluntary Support of Education
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