A record year for gifts and grants: January 22, 2014

The Community Foundation for Greater Atlanta is pleased to report that, according to current estimates, 2013 has been one of the best financial years in the Foundation’s history.
In sum, in 2013, The Community Foundation for Greater Atlanta

• Received the largest total dollar amount for gifts to the Foundation from donors in the Foundation’s 63 year history, totaling $196 million
• Received its largest single gift from an individual in the Foundation’s history, totaling $103.9 million from an anonymous donor
• Experienced one of its largest years in the Foundation’s history for disbursing grants to nonprofits granting more than $121 million representing approximately 5,500 grants to nonprofits locally, nationally and abroad
• Has more than $900 million in total assets – a record for the Foundation.

“Our donors are generous, passionate people who care deeply about harnessing their philanthropic dollars to help improve the quality of life in our region and beyond,” said Alicia Philipp, president of The Community Foundation for Greater Atlanta. “We like to think of ourselves as a partner in our donors’ strategic philanthropy and we are so very pleased in the confidence our donors have demonstrated in us through the extraordinary amount of gifts the Foundation received in 2013 – gifts that have enabled us to give an estimated 5,500 grants. In this time of growing economic stress for nonprofits doing critical work combined with increasing demand for their services, every grant has to stretch farther than ever before and each dollar is more precious than ever.”

What does The Community Foundation attribute its strong 2013 numbers to? According to Rob Smulian, vice president for Philanthropic Services at The Community Foundation for Greater Atlanta, “One factor is that income tax rates went up for wealthy individuals at the top of the earning range. This increased the value of the charitable tax deduction.  Also, it was a year of continuously appreciating assets, especially in the stock market. This often encourages folks to make charitable donations because it makes the charitable deduction more valuable and appreciated assets become a tax efficient way to give.”

Adds Philipp, “The real reason people give is because they are passionate about giving and they care deeply about helping others. That describes our donors. Our donors know that by working with us they have access to our philanthropic expertise and deep knowledge of the region’s most pressing issues, including the high performing nonprofits working to solve these issues. We help donors maximize the effectiveness of their philanthropy by being a strategic partner in their giving.”

Philipp and Smulian expect these philanthropic reasons and trends to continue in 2014. The vast majority of the grants distributed by The Community Foundation in 2013 were recommended by the Foundation’s donors through their donor-advised funds. In fact, approximately $115 million of the $121 million in grants were recommended by donors.
“Donor-advised funds are our most popular and flexible type of fund and we’ve noticed an increase in the use of these funds by our donors,” shared Christy Eckoff, director of Gift Planning at The Community Foundation for Greater Atlanta.

“With a donor-advised fund, donors may give grants locally, nationally or internationally to any nonprofit that is a registered 501(c)(3) organization. We are a valued partner in strategic philanthropy with many resources. We can work with our donors to make smart grants to some of the most effective nonprofits working in areas the donors are most passionate about. By working with us, donors can make sure their charitable dollars are spent wisely.”

The remaining $6 million in 2013 grants were awarded through The Community Foundation for Greater Atlanta’s competitive grantmaking programs. Such programs include the Foundation’s Common Good Funds, Metropolitan Atlanta Arts Fund, Grants to Green, Neighborhood Fund and more. The Foundation’s grantmaking approach is different from the majority of grantmaking organizations. Instead of focusing on funding specific programs, The Community Foundation gives general operating support grants to nonprofits. The organizations can then use these grants to fund their general operations. According to Philipp, “The Community Foundation and our donors believe in the work high performing nonprofits are doing to support their missions. General operating support grants enable nonprofits in a more holistic and flexible way rather than focusing on specific programs.”