Total assets of foundations in the United States rose by $100 billion in the first half of 2023 to $1.25 trillion, signaling a reversal from declines in the previous three quarters, an analysis by FoundationMark finds.

According to FoundationMark, while asset values in June were 7 percent higher year-over-year, they were still 9 percent off the peak of $1.377 trillion reached in December 2021. Foundations’ median investment performance is 11.3 percent year-to-date and 13 percent year-over-year, representing a stronger near-term performance compared with three-, five-, and 10-year rolling averages of 7.8 percent, 6.5 percent, and 6.6 percent, respectively.

FoundationMark’s analysis includes a review of the publicly available Internal Revue Service filings of more than 40,000 foundations with assets of at least $1 million, representing 98 percent of all U.S. foundation assets. The improved performance of foundation assets echoes broader stock market indices, including the S&P 500, which has seen a 12.5 percent increase since June 2022 and a 19.3 percent increase year-to-date.

Based on current market conditions, FoundationMark modeling indicates total foundation giving by the end of 2023 will approach $90 billion, up slightly from 2022.

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