Chicago Philanthropy Down

A survey of Chicago foundations reveals that their giving will decline this year. “The survey indicates an average decline in grantmakers’ assets of 15 percent in the most recent fiscal year. But requests for money from non-profits showed no letup. According to the survey, donors are responding by awarding fewer grants, but of somewhat larger amounts. They also are giving more toward general operating expenses, rather than specific programs of non-profits, allowing the groups more flexibility in the use of the funds.”