By Liz Sak, Cricket Island Foundation
This posting original appeared on Smart Assets The Philanthropy New York Blog, April 3, 2012.
When the 2008 financial crisis hit, endowments of smaller foundations were hit hard. We all knew the recovery would take time. We just didn’t know how long.
In Diminishing Dollars: The Impact of the 2008 Financial Crisis on the Field of Social Justice Philanthropy, a report we recently helped produce in partnership with Foundation Center, we found that social justice grantmaking levels through 2015 will remain below 2008 levels, unless the smaller funders who primarily support community-based social change see 5 years of above-average investment returns.
We believe these results can be extrapolated to the broader funding community. Continue reading