2023 Report on Private Philanthropy

After record giving in 2020 and 2021, private foundations continued to give generously in 2022 despite difficult macro-economic conditions.

3 Key Takeaways:

• Collectively, the 980 foundations in our study made a total of 31,373 grants in 2022 representing $865 million in charitable aid. This is a 7.1% increase in grants and 14.7% increase in dollars granted over the prior year.
• In 2022, foundations made more and larger grants than they did in 2021.
The average number of grants made annually per foundation increased from 31 to 33, while the average grant size increased from $25,000 to $28,000.
• As in prior years, foundations granted more than the required 5% distribution— an average of 6.6% of assets in 2022.