Some people may wonder why we chose to create a database of private foundations. After all, aren’t there other ways that might help ministries and non-profits find better funding? Well, according to the Giving USA 2009 report, “Foundation grant-making increased 3 percent (in current dollars), although giving from all other types of donors declined. Foundation grants accounted for more than 13 percent of total charitable giving, and the Foundation Center estimates that grant-making in 2008 surpassed all prior records.” As seen by these statistics, foundations are a good place to look for grant money.
So, what exactly is a private foundation? It is a tax-exempt entity with one of its requirements beings that it must annually distribute its income for charitable purposes. Private foundations file IRS form 990, a document accessible to the general public that lists the foundation’s financial information and records to whom they give.
In 2005, approximately 430,000 organizations filed a 990 and the IRS estimates that by 2012, about 534,000 organizations will be filing 990s. By the appearance of things, foundations, and foundation giving, will continue to grow.
Information taken from: Taukir Hussain. “Projections of Federal Tax Return Filings: Calendar Years 2005-2012.” Internal Revenue Service <www.irs.gov>.
-- Ashley High is a Research Assistant at Christian Foundation Grants (www.christianfoundationgrants.com) which is a subscription database of foundations that provide grants to faith based organizations. iDonate.com is a website (www.iDonate.com) that allows ministries to receive non cash gifts online