Giving and Assets of Calif. Foundations Grow Faster Than Those of Other U.S Grant Makers

In the 1990s, California foundations’ giving and assets grew at a greater rate than the total giving and assets of all grant makers in the United States, according to a new study by the Foundation Center and the Center on Philanthropy and Public Policy at the University of Southern California.

The study found that in 1999, California foundations were second only to funds in New York in the share of total giving and total assets nationwide.

In 1999, roughly 75 percent of the state’s foundations were located in the Los Angeles, Oakland, San Diego, San Francisco, and San Jose areas, the study also found.

Among those areas, the San Jose region had the fastest growth rate in number of foundations, giving, and assets during the late 1990s. The San Jose area is home to Silicon Valley, which helped to fuel the technology-driven economic boom that was a principal cause of California’s foundation growth, according to a report on the survey.

The report states that, despite the current economic slide, the technology industry still offers the greatest potential for wealth creation in the economy.

Highlights of the report will be available later this month on the Foundation Center’s Web site, http://fdncenter.org. Complete copies of the report will be available from the Foundation Center for $24.95 each.

To order, call customer service at (800) 424-9836 or write to the Foundation Center, Attention: Customer Service Department, 79 Fifth Avenue, New York, N.Y. 10003. Copies may also be ordered online at http://fdncenter.org/marketplace.