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June 21, 2011

Report: Foundation grants less in '09

By The Mainebiz News Staff

Maine foundations doled out less money overall in 2009, but spent more of it in the state, according to a report from the Maine Philanthropy Center.

Total giving by the state's top 20 foundations dropped 21% in 2009 compared to 2008, but the amount they gave to Maine institutions rose 9%. Those 20 institutions gave a total of $72 million in 2009, the most recent data available, and $52 million of that, or 82%, stayed in Maine. Assets at Maine foundations decreased 10% in 2009, while giving decreased 6%. Five major national foundations also donated $11 million to Maine in 2009. Human services received the highest amount of foundation grants, 29%, while education received 21% and health care 17%, according to the report.

For more information on the state's largest foundations, see "By the numbers," below.

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