MINNEAPOLIS (December 9, 2003)  Giving by Minnesota's foundations and corporate grantmakers is likely to increase modestly in 2004, according to a new report by the Minnesota Council on Foundations, a membership association for philanthropy. In a November 2003 Council survey, 70 percent of Minnesota grantmakers said they expect to increase their 2004 grants to nonprofits from 2003 levels, although 44 percent expect increases of less than 5 percent.

The state's grantmakers appear more positive about the outlook for Minnesota's future grantmaking than they were a year ago, when just 43 percent of the state's foundations and corporate givers expected any increase in grants in 2003.

One reason for the state's improved grantmaking outlook is a growth in foundation assets, due in large part to a rebounding stock market. In the survey, 58 percent of foundations reported increases in their assets over the past year, compared to just 11 percent last year. Another reason for the improved outlook is increased corporate profits, which are the source for most corporate grants.

"The brighter outlook for Minnesota grantmaking in 2004 is welcome news for nonprofits and communities," said Council president Bill King. "But it is important to remember that grantmakers can never fill the gaps left by reduced funding from government and other sources. We must find new ways to maintain and improve the health and vitality of our communities with more limited resources."

Nearly half (46 percent) of the Minnesota grantmakers surveyed said they are likely to consider some new measures to respond to the negative effects of the weak economy of the past few years, and related cuts in government funding, on nonprofits and communities.

The "Minnesota Grantmaking 2004 Outlook Report" can be downloaded from the Council's Web site at www.mcf.org (select "Trends & Analysis"). Print copies are available for $5 from the Council (612/338-1989, info@mcf.org).

Founded in 1969, the Minnesota Council on Foundations' mission is to strengthen and expand philanthropy. The Council is a regional membership association of grantmakers working to improve the vitality and health of our communities. Council members include private foundations, community and other public foundations, and corporate foundations and giving programs.

CONTACT: David Biemesderfer, vice president of communications and information services, 612/335-3597, dbiemesderfer@mcf.org  

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More Information:

• Highlights: Minnesota Grantmaking 2004 Outlook Report.
• Download: Minnesota Grantmaking 2004 Outlook Report (PDF, 4 pages).
• Order: a print version of the report ($5, 4 pages).

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