MINNEAPOLIS (WCCO) — Minnesota’s foundations are hoping to hand out more grants this year thanks to an improving economy.
According to Bill King of the Minnesota Council on Foundations, when the economy improves, so does philanthropic giving.
“I think we’ve seen a recovery of the economy and as a result of that recovery we’re also seeing stabilization in the philanthropic community,” said King.
NewsRadio 830 WCCO’s Steve Murphy Reports
Three-fourths of the big corporate, family and public foundations expect to give as much, or more, this year in grants — with education getting a greater amount.
“They anticipate that they will increase their grant-making to education in the state,” said King.
Collectively, the foundations hand out more than $900 million a year in grants to non-profits.