Just released by the Foundation Center, the latest edition of our
Key Facts on Georgia Foundations report finds that giving by the state’s foundations rose an unexpected 7 percent in 2009, due in large part to increased giving by several key funders. The Community Foundation for Greater Atlanta led all other foundations in terms of total giving, with an organization-high $142 million in grants awarded for the year.
We asked Alicia Philipp, president of The Community Foundation for Greater Atlanta, to provide some perspective on the organization's grantmaking strategy and the increase in giving during 2009.
In spite of the turbulent economic times, 2009 proved to be a strong year for philanthropy in our region and for The Community Foundation for Greater Atlanta. The Community Foundation and our donors gave a record amount in grants. Grants made were $142 million. In 2009, The Community Foundation had its third highest year ever in terms of total gifts received at $116 million. Assets were $650 million and our total assets increased by approximately $30 million.
These three areas received a boost due to three factors: (1) the Woodruff Foundation made a large grant to The Community Foundation specifically intended for Grady Hospital; (2) donors with donor-advised funds were very responsive to meeting community needs and the payout rate from these funds in 2009 was 31%; and (3) our Investment Committee and board resisted the temptation to market time or broadly change what has been a strong, long-term investment strategy for our pooled fund.
To help donors with funds at The Community Foundation respond effectively in these tough times, we began a new series of publications highlighting the critical needs of our community such as
Crisis Assistance. In each issue, we highlighted high-performing organizations working to address these needs and provided donors the opportunity to hear from, and to meet with, the leadership of these organizations. We believe this, along with the desire of our donors to help the organizations they are most aligned with through these tough times, accounts for part of the spike in grants given.
In terms of our investment strategy, it is extremely deliberate and highly diversified. We have benefitted from excellent advice from our investment counsel, Colonial Consulting, and a very strong investment committee.
Alicia Philipp is president of The Community Foundation for Greater Atlanta, one of the largest and fastest growing philanthropic service organizations in the country. With assets of more than $740 million, The Community Foundation strengthens the 23-county Atlanta region by providing quality services to donors and innovative leadership on community issues.
Key Facts on Georgia Foundations can be downloaded from the Gain Knowledge area of the Foundation Center’s web site.