Snapshot: Key Facts on Family Foundations

New findings from the Foundation Center's Research Dept.:

"The Foundation has identified 37,800 independent foundations with measurable donor or donor-family involvement. These 'family foundations' represent more than half of all family foundations and account for similar shares of idependent foundations' giving, assets, and new gifts and bequests from donors. If all of the nation's family foundations could be identified [ed note: family foundations are not legally distinct from other idependent foundations, requiring the Foundation Center to identifiy them using several objective and subjective criteria], these shares would undoubtedly rise."

Key Facts (based on 2006 grantmaker data):

• $16 Billion -- Giving by family foundations
• 13 percent -- Increase in family foundation giving between 2005 and 2006
• 35,693 -- Number of grantmaking family foundations
• 48 percent -- Share of family foundations reporting less than $50,000 in giving
• 59 percent -- Est. family foundation giving as share of independent foundation giving

(Click for larger image)

To download a copy of "Key Facts on Family Foundations," click here. For more information, contact Reina Mukai.

New Bank of America Web Site for NPOs Seeking Grants

This just in...

Bank of America has announced a new Web site through which nonprofit organizations can research and apply for grants from nearly seventy foundations managed by BoA's philanthropic management division. In its role as trustee and/or grantmaking agent for those foundations, the bank distributes more than $350 million annually to nonprofits and charities nationwide.

Enhancements to the site include:

• Find a Foundation -– Search for a foundation by individual criteria, such as name, geographic coverage area, and focus area, including arts and culture, education, health and human services, among others. Advanced search capabilities allow nonprofits to further narrow their search by combining criteria such as region and focus area (i.e., Connecticut and Education).
• Single point of access -– Gather information about each foundation through a consolidated portal that allows nonprofits to quickly determine a foundation's mission, regional application procedures, proposal deadlines, contact information, and whether or not their organization may qualify for a grant based on the foundation’s application criteria.
• Grantmaking History -– To help nonprofits gain a better understanding of foundations' grantmaking history, Bank of America has posted recent grants awarded by each foundation that can be searched by geographic area.
• Standard Application Format -– An "Applications & Procedures" section of each foundation's portal site offers instructions, requirements, and links to grant application forms. Most foundations allow for Bank of America to present these forms in a Standard Grant Application format, helping to further simplify and streamline the process. Application documents required by each foundation must then be submitted by mail or email to the respective contact name and by the appropriate deadline. Applicants must be classified by the Internal Revenue Service as a 501(c)(3) public charity.
• Increased Transparency -– Bank of America has designed this portal in part to provide greater visibility into and awareness of the foundations it manages, including how they give, what they give, and to whom.

Good stuff. Chalk one up for greater transparency...

-- Mitch Nauffts

Quote of the Day (May 1, 2008)

"We  have no energy policy, and none on the horizon. Candidates serious about the issue of high energy prices should be discussing increased CAFE standards, capital gains tax waivers for alternative energy investments, greater offshore drilling, Pigou taxes, rapid nuclear plant approvals, a huge increase in the basic R&D the government does on energy -- a Manhattan project for energy and transportation science. Instead, we hear proposals about waiving an 18-cent tax."

-- Barry Ritholtz, The Big Picture