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Philanthropy Dollars Expected To Rise This Year

Sunday, February 27, 2011 at 11:11 AM

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Many Ohio philanthropists say they are cautiously optimistic about the amount of funding they’ll be able to grant nonprofits and charities this year. Ideastream’s Michelle Kanu reports.

In a survey by the Ohio Grantmakers Forum sent to foundations and corporate giving programs, 61 percent of those responding said their financial assets have increased, and 39 percent said they expect to boost the grant dollars they give out this year – up from 26 percent in 2010.

Claudia Herrold is a spokesperson for the Grantmakers Forum.  She says that’s good news, especially since half of these funders expect to receive more requests for money this year.

Herrold: “The real outcome will be that there are more dollars available for the wide variety of non-profits that are supported by the foundations and corporate giving programs.  They fund everything from arts and culture to education, to health and human services, the environment, and economic development.”

Herrold says many of these organizations provide social services in communities that have seen state and federal dollars drop off during the recession.

The 99 survey respondents represent about 7 billion dollars, or half of the state’s total grantmaking assets.  While half of the state’s philanthropy groups are located in Northeast Ohio, Herrold says a greater percentage of those in the southwest and central regions said they expect to increase giving.

Harrold says the increased optimism in Ohio mirrors similar trends in Florida and Minnesota. The 32 other grant making associations around the country still have yet to report their survey results.

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Economy, Regional Economy/Business - Analysis and Trends, Community/Human Interest

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