Lean Times Change Grant Focus for Many Foundations

With less money to spend amid the economic downturn, many philanthropic foundations are shifting to a more strategic giving strategy, focusing on fewer goals with larger grants, Crain’s Chicago Business reports.

More than three-quarters of respondents to a Foundation Center survey said they expect philanthropy to become more strategic as overall giving declines, with grant makers outlining a set of clear goals and supporting mainly larger organizations with administrations capable of tracking and reporting results.