Foundation Giving Gains Momentum; Bequests Decrease
October 3, 2007 | Read Time: 1 minute
More wealthy donors are choosing to give away charitable dollars while they are alive as opposed to making bequests, reports InvestmentNews. The trend is signaled by a 2.1 percent decrease in bequests along with a rise in foundation grant making by 12.6 percent from 2005 to 2006, according to Giving USA statistics.
While factors such as increased life expectancy may also play a part in the decrease of bequests, many financial advisers report that donors today are more eager to see the social benefits from their giving during their lifetimes.
Says Doug Mellinger, founder of Foundation Source Philanthropic Services, “These givers want to see outcomes while they are still alive.” Indeed, the number of private foundations in the United States has roughly doubled, to 80,000, in the last decade.
