Although some foundations predicted a slowdown in giving in 2023, an annual survey conducted by Candid has found foundation giving remained in line with the previous year.

For its Foundation Giving Forecast Survey, Candid received 496 responses from large private and community foundations in the United States, which shared information about their grant payments and grantmaking practices. Cumulative grant dollars increased from $25.8 billion in fiscal year end (FYE) 2022 to $26.2 billion in 2023 (unadjusted for inflation), a 1.7 percent increase. Community foundations saw a bigger increase in giving than independent or corporate foundations, awarding 6.6 percent more in grant dollars, according to the survey. Moreover, the median payout by independent foundations held steady at 5 percent.

While 53.1 percent of respondents reported that they expect their giving to remain the same in 2024, nearly a third (31.1 percent) anticipated their giving to increase this year.

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