ERIC Number: EJ833300
Record Type: Journal
Publication Date: 2009-Mar-18
Education Philanthropy Catching a Chill as Economy Cools Charitable Giving
Robelen, Erik W.
Education Week, v28 n25 p1, 10-11 Mar 2009
This article reports that the recession tearing into the U.S. economy is not only straining the public coffers that support K-12 schooling, it's also taking a toll on education philanthropy. From family foundations to corporate philanthropies, charitable giving to K-12 education appears to be facing a downturn. Although no national figures are available, many philanthropies--including notable education contributors such as the Eli and Edythe Broad Foundation and the Jack Kent Cooke Foundation--expect to decrease their giving levels this year. Most grantmakers are expected to meet their current grant commitments, which often span multiple years, but observers and foundation officials say the outlook for education is likely to worsen before it improves. Some organizations that rely on private giving for part or all of their budgets are already feeling the pinch.
Descriptors: Elementary Secondary Education, Private Financial Support, Economic Impact, Financial Problems, Philanthropic Foundations, Educational Finance, Public Schools, Private Schools
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Elementary Secondary Education
Authoring Institution: N/A