Weinberg Foundation Announces Donation Levels

yoav@negevdirect.com 08/06/2009 "Need to Know" for Jewish non-profits, U.S. Economy
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Weinberg Foundation announces donation levels: The Harry and Jeanette Weinberg Foundation announced that it would give out more than $200 million over the next two years, including some $21 million in new grants over that time period.

The Baltimore-based foundation, which traditionally gives more money to Jewish causes than any other foundation, also announced that starting Aug. 3 it again would be accepting letters of inquiry from grant seekers who have not previously received money from the foundation. A freeze on such requests had been put in place last Novemeber.

But the foundation’s giving is still down, as its assets have shrunk 25 percent, according to its president, Rachel Monroe. Last year, Weinberg gave out $106 million. Over the next two years it will average $100 million. If the foundation had stayed on the growth pace it set before the recession, its assets would have been worth $2.5 billion and it would have given out $125 million in 2009. Over the next two years it will have only $21 million available for new grantees. The other $179 million is designated for pre-existing multi-year grants. The foundation said it would honor all pre-existing grants.

Source: The Fundermentalist JTA Blog