By Robert Milburn
A study by Exponent Philanthropy suggests philanthropists and family foundations are becoming more impact-oriented, doling out fewer grants but with larger dollar amounts given to only the top-performing nonprofits.
Exponent Philanthropy estimates that it’s 2,300 members, with total assets of $87.8 billion, made 158,000 grants last year, down from 203,000 a year earlier. But the median grant size increased 24% to $19,116.
That’s a significant refocusing of business, says Exponent Philanthropy CEO Henry Berman. These foundations have stopped blankly writing checks, jettisoned underperforming charities, and are now zeroing in on nonprofits that truly matter to the family’s overall mission.