The dust has settled from the busy giving season, so we wanted to pause and ask our private foundation clients what’s next for their philanthropy in 2024? Based on 225 private non-operating foundations, two key trends emerged: donors are focusing on involving the next generation and expanding their generosity.
“The next generation will inherit more wealth than past generations and their commitment to social change and desire to live a life of purpose have great implications for the future of philanthropy,” said Foundation Source CEO Joseph Mrak. “It’s an unmissable opportunity for service providers and advisors in the charitable landscape to connect with emerging leaders and deliver high-quality tools, education, and expertise to help facilitate their giving and amplify their impact.”
“While tailwinds from the market downturn and economic instability took a toll on assets, foundations remained committed to their missions and our clients gave nearly 52,000 grants totaling more than $1.5 billion in 2023,” said Gillian Howell, head of client advisory solutions. “We are encouraged by their generosity but also recognize that creating a better world is an uphill battle that requires unrelenting effort and discipline from those who have the power to effect positive, lasting change.”
Check out the highlights from our 2024 Client Survey in our infographic>>
If you want to learn more about the giving and investing trends of our clients, check out our 2023 Report on Private Philanthropy.
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Whether you’re an existing foundation looking for an easier, better way to run your foundation’s operations or you’re looking to start a foundation, please contact our phenomenal team of philanthropic experts. We’re always here to help! Together, let’s #begiving.
