Philanthropy in the News: October 14, 2009
Community Foundations Saw a 27% Drop in Asset Value
The Chronicle of Philanthropy
By Debra Blum
10/14/09
Community foundations suffered steep investment losses last year, ending a five-year streak of positive returns and damaging their purchasing power, according to a new report from the Council on Foundations, an organization that represents grant makers. Read full text.
Pittsburgh Foundation launches PittsburghGives
Pittsburgh Business Times
10/13/09
The Pittsburgh Foundation is launching an initiative designed to boost individual charitable giving with a special “Match Day” on Oct. 28.
It will provide matching grants of $300,000 for the first donations received through its new PittsburghGives program. A separate $100,000 fund will provide matching dollars to support Carnegie Library, which is facing branch cuts. These matching grants are expected to spur total giving to more than $1.2 million. Read full text.
Philanthropic foundation’s small start now $56M strong
ArgusLeader (Sioux Falls, SD)
10/14/09
Twenty-five years ago, the Sioux Falls Area Community Foundation got off the ground when six civic leaders agreed to pitch in $2,000 each to get funding started.
Today, that funding has grown into $56 million in managed assets. Through the years, the foundation has returned more than $60 million to various projects and organizations in the area. Read full text.
