Study: Philanthropic Giving Down By Almost $1 Billion

“Charitable giving by America’s grant-making foundations — a universe of nearly 65,000 organizations — fell from $30.5 billion in 2001 and $30.4 billion in 2002 to approximately $29.7 billion in 2003. A downward shift of $800 million might, arguably, be small change when one compares it to America’s multitrillion-dollar economy, but for nonprofits, it is another sign that times have been tough, are still tough, and are likely to remain tough for the foreseeable future. A nearly $1 billion decline in giving in just three years, in fact, stands in stark contrast to the boom years of the late 1990s, when foundations, feeling flush and optimistic due to the dot-com stock market upswing, seemed to forever be moving their giving levels via a northern trajectory.”