COF members aim to meet needs despite asset declines

Nearly three-quarters of Council on Foundations (COF) members surveyed in March this year experienced asset declines of 25 per cent or more in 2008 and two-thirds reported a further 10 per cent drop in early 2009. A total of 430 foundations responded, including community foundations and family, independent and corporate grantmakers in 45 states. Family and independent foundations saw the largest declines. As a result, 62 per cent of foundations responding to the survey are reducing their grantmaking in 2009, but 38 per cent plan to maintain or increase it.