Connecticut grantmakers distributed more than $902.7 million in 2008, a 22 percent increase from 2006, according to 2010 Connecticut Grantmaking Highlights published by the Connecticut Council for Philanthropy.
The report, published every two years, uses data from the council’s online database, Connecticut Grantmakers Online (CGO) and measures the extent and changes of the state’s philanthropy.
The council cull information primarily from 2008 IRS returns, the most recent year for which data is available. There are more than 72,200 grantmaking foundations in the United States, of which 2,378 are active in Connecticut and included in this analysis.
“The start of the economic downturn in late 2008 had a significant impact on foundation activity that will be felt for years to come,” said council President Nancy Roberts.
Foundations’ assets fell 1 percent from 2006 totals and yet, Roberts said, because charitable distribution for foundations is often based on a three- to five-year past average, grantmaking experienced a sizeable increase.
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