Community Funds Worth More Than Before Recession, Study Finds

Community foundations are now worth more than they were before the recession started in 2007, according to a new report.

The 100 largest community foundations reported new records, showing a more than 20-percent increase in assets from 2006 levels, as well as big rises in the amount donors contributed and the sums given to charitable causes.

The survey of 276 community foundations, which includes the 100 largest community funds, found that 79 percent now are wealthier than they were in 2007, when the funds reached their highest peak in assets. From 2011 to 2012, community foundations grew an average of 9 percent in assets, received a 15-percent increase in donations, and contributed 6 percent more to charities.

The findings come from a study conducted by the Council on Foundations and CF Insights, a Boston nonprofit.

Rebecca Graves, executive director of CF Insights, said the improved economic environment was fueling the growth in donations to the funds. The continued popularity of donor-advised funds has also driven asset growth at community funds, accounting on average for a 22-percent increase in assets in 2012.

$58-Billion in Assets

Among the other findings:

• About 28 percent of community funds said they faced moderate or sharp decreases in gifts, and 19 percent gave less than in 2011.

• Medium-size foundations with $50-million to $249-million in assets received the biggest rise in donations in 2012, with a 20-percent increase on average. Large foundations with more than $250-million in assets increased their grants the most, giving 9 percent on average.

• Community foundations are worth a total of $58-billionand received $7-billion in donations and contributed $4.5-billion to charities last year.