MINNEAPOLIS, Minn., Nov. 4 (AScribe Newswire) -- The Minnesota Council on Foundations (MCF) today released its Giving in Minnesota, 2009 Edition research report, the most comprehensive analysis of charitable giving in the state. In examining foundations and corporate giving programs with fiscal years ending between June 1, 2007, and May 31, 2008 - the most recent time period for which complete data are available - MCF analyzed the state's charitable giving for the months leading up to and during the very earliest part of the recession.
The report shows giving by individuals, foundations and corporate giving programs totaled $5.5 billion for the 2007 research year, an increase of 2.2 percent from 2006. While giving by individuals remained steady with 2006 levels at $4.19 billion, foundations and corporate giving programs increased giving by 10.1 percent to $1.32 billion.
"This immense charitable giving effort by everyone in our state laid the foundation for strong nonprofits that are prepared to help our communities through these extraordinarily tough times," says Bill King, MCF president. "But, $5.5 billion cannot fill all the current gaps. As state and federal cuts take hold, we are all anxious about the impact on individual nonprofits and the people they serve."
According to the report, Minnesota foundation assets grew to $18.8 billion in 2007, a 6.9-percent increase from $17.58 billion in 2006. "We know that assets have decreased significantly in the year following this reporting," King explains. "Because foundations typically base their future grant levels on a one- to three-year average of past asset performance, we may not see the effect of these asset declines reflected in grant levels for another year or two. The full impact of this recession on giving and on nonprofits is still unknown."
MCF conducts the Giving in Minnesota research annually to examine long-term trends in charitable giving. Among other key findings in this year's report:
- ) Over the last decade (1997-2007), charitable giving in Minnesota has increased 67 percent.
- Also over the last decade, the number of grantmakers in Minnesota has grown by 65.6 percent, mirroring the explosive growth in new foundations nationwide.
- In 2007, there were 1,429 active grantmakers in Minnesota: 85 percent (1,209) were private family and independent foundations; 9 percent (131) were corporate foundations and giving programs; and 6 percent (89) were community/public foundations.
- Although they account for only 9 percent of grantmakers, corporate foundations and giving programs gave 43 percent of all grant dollars, or $564 million.
- The top 100 grantmakers gave 82 percent of all grant dollars paid in the state, or $1.1 billion, even though they represent only 7 percent of grantmakers.
- Education and human services received the largest shares of Minnesota's grant dollars in 2007, at 27 and 24 percent, respectively. This is a slight increase over 2006 and continues a long-term trend.
- Giving to Greater Minnesota grew 18 percent in 2007 from 2006, the largest increase of the geographic areas studied.
For the Giving in Minnesota, 2009 Edition summary and complete report, see http://www.mcf.org/mcf/giving/givingmn.htm .
To report on trends in giving by subject area, by geography, by beneficiary and by type of grant support, MCF analyzed more than 27,000 grants of $2,000 or more made by 100 of the state's top grantmakers, totaling $917.9 million.
In early January, MCF will release its 2010 Outlook Report. This research will provide the latest snapshot of how declines in foundations' assets may be reflected in funders' expectations for grantmaking in the coming year.
About the Minnesota Council on Foundations
The Minnesota Council on Foundations (MCF), a regional association of grantmakers, works actively to strengthen and expand philanthropy and increase the vitality of our communities. MCF members represent three-quarters of all grantmaking in the state, awarding more than $850 million to nonprofits annually. Members include family and private independent foundations, community and other public foundations, and corporate foundations and giving programs. For more information, visit http://www.mcf.org/ .
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CONTACT: Chris Murakami Noonan, 651-470-4760 (cell) or 612-465-0716, cnoonan@mcf.org
Wendy Wehr, 612-335-3597, wwehr@mcf.org
Media Contact: See above.
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