Sunday, September 29, 2002
What's the Buzz?
Cincinnati Foundation's gifts, assets hurt by economy
The stormy national economy has cut gifts and assets at the Greater Cincinnati Foundation, but total grants to Tristate nonprofit causes remained steady in 2001.
Those numbers are from a new national survey by the Columbus Foundation that showed gifts to the GCF falling to $26.8 million No. 34 nationally from $40.8 million in 2000.
Total gifts were $61 million in 1999, $30 million in 1998 and $20.8 million in 1997.
Meanwhile, the market value of the foundation's funds dropped more than $13 million to $388.6 million in 2001, compared with the year before, and has dropped to about $300 million so far this year, spokeswoman Beth Reiter said.
There's a rough economic climate out there, she said. It affects everybody.
Total grants increased slightly to $26 million in 2001, ranking No. 32 nationally, the survey showed.
The foundation trailed those in Dayton, Columbus and Cleveland in total gifts. Top nationally in that category was the Tulsa (Okla.) Community Foundation, with total gifts of $136.6 million.
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