Foundation Association’s CEO Says Grant Makers Met Recession’s Test

Denver

In his opening speech at the annual Council on Foundations conference, Steve Gunderson, president of the association of grant makers, gave foundation officials a pat on the back for not cutting their grants too deeply during the recession and urged them to get ready for an economic recovery.

Citing Foundation Center figures suggesting that grants dropped by only 8 percent in 2009—a far smaller percentage than the drop in foundations’ assets—Mr. Gunderson said he thought history would look back favorably on how grant makers responded to the recession.

“I believe this sector met that test,” he said.

“I have yet to meet a foundation that didn’t make extra efforts to maintain their grant making,” said Mr. Gunderson. “You cut staff. … Some of you even cut your membership dues and your conference attendance, but we won’t go there.”

Today, the stock market is up about 70 percent from its nadir and attendance at the council meeting is roughly 25 percent higher than it was in 2009, Mr. Gunderson said.

The title of this year’s conference is “Intersections: Social Change, Social Justice, and Social Innovation.” Areas of discussion include education and health.