Assets Grew 14% at Small and Midsize Foundations Last Year

Assets at small to midsize foundations grew by 14 percent in 2013 and gave out more than 7 percent of their assets, according to a report released (last week). Those grant makers, which have holdings of less than $50-million, account for 98 percent of all U.S. foundations but only about 30 percent of all foundation wealth nationally, according to the study by Foundation Source, a firm that provides advice and administrative support to grant makers.

Assets at the 714 grant makers in the report (all of which are Foundation Source clients) grew to $2.7-billion by the end of last year compared with nearly $2.4-billion in 2012.

Among the other findings:

• More than one third of the foundations distributed 10 percent or more of their assets to nonprofits, double the 5 percent required by law.
• Of all grants these foundations gave last year, 29 percent ($42.8-million) went to support education, 17 percent ($25.7-million) went to human services, and 12 percent to arts, culture and the humanities.
• Only 5 percent was directed to the environment and animal welfare and 5 percent to religious groups.