FAIRFIELD, Conn., — (NEWSWIRE) — Today, Foundation Source, the nation’s largest provider of management solutions for private foundations, released its 2022 Client Survey, which offers a glimpse into how donors either adapted or upheld their level of charitable giving through private foundations in 2022.
Out of 215 respondents, the majority (74%) indicated no change in their foundation’s grantmaking activities. Furthermore, when looking ahead to 2023, most respondents said they plan on keeping their charitable giving similar to 2022 or increasing it slightly.
Staying the Course in 2022
While the majority of donors maintained the status quo in 2022, of those who made changes to their foundation’s activities, most expanded their generosity by increasing the size and number of grants. Eighty-three percent of respondents didn’t change the asset allocation of their foundation’s endowment. But for those that did make changes, they added equities (29%) or liquidity (32%), with 40% noting the changes were due to the economic environment.
“The results we are seeing from our 2022 Client Survey demonstrate that the generosity of donors persists even in the face of a challenging market environment,” said Gillian Howell, Head of Client Advisory Solutions at Foundation Source. “But in our view, we’re also seeing the discipline that underpins the charitable giving strategies of many foundations. Rather than reacting to short-term dynamics, they are building long-term partnerships and deep-rooted philanthropic legacies.”
Taking an Optimistic View in 2023
Looking ahead to 2023, most respondents plan to maintain (58%) or slightly expand (20%) their giving levels. Only 11% said they would scale back grantmaking slightly and only 1% said they would scale back grantmaking significantly. Forty-two percent of respondents said they plan to add to their endowment in 2023, with 61% of that group saying it will be a planned addition and 18% saying it will be because of a liquidity event.
Survey respondents also noted that managing succession, hearing from other funders, and understanding the unique features of foundations are topics of highest interest for learning and collaboration.
“With over 47,000 grants made in 2022, totaling over $1.5B in charitable gifts, the level of generosity among our clients is inspiring” said Sunil Garga, president and chief executive officer of Foundation Source. “The results of our latest client survey underscore how the mission-oriented private foundation structure can encourage donors, regardless of market conditions, to remain committed to their missions and serve communities around the world.”
Methodology For Administering The Client Survey
The data presented here is from a digital survey conducted between December 20, 2022 and January 11, 2023 with Foundation Source clients. Responses are from 215 private non-operating foundations.
MEDIA CONTACT
Carly Taylor
+ 1 973-618-6993
About Foundation Source
Foundation Source is the nation’s largest provider of foundation management services and a trusted source for philanthropic expertise. We offer purpose-built software applications and a configurable suite of tech-enabled administrative, compliance, tax and advisory solutions for private philanthropists and their foundations.
For more than two decades, Foundation Source has been empowering people and companies to create a better world through philanthropy. We work with individuals, families, boards, and professional advisors to bring philanthropic visions to life and make giving easier. Today we are proud to support more than 2,000 unique foundations representing over $22 billion in charitable assets.