Better economy in 2010 boosted foundation grants
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The Pittsburgh Parks Conservancy's environmental restoration of Panther Hollow has received a $1 million boost from the Richard King Mellon Foundation, the top local philanthropy.
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The ongoing economic recovery helped most Pittsburgh foundations distribute more grants in 2010.
Giving by the foundations had fallen in 2009 as the crash of financial markets took a toll on their investment funds.
"The foundation's annual grants budget is a reflection of its endowment," said Kristy Trautman, executive director of the FISA Foundation, which increased its grants last year to $1.2 million from $885,000 in 2009. FISA giving targets programs for women, girls and people with disabilities.
Holding the top spot among foundations once again was the Richard King Mellon Foundation, which reported a 50 percent surge in payouts, to $87.9 million from $58.3 million in 2009. The dollar amount of the foundation's grants had dropped by 12 percent in 2009, compared with 2008.
Among its largest grants last year: $4 million to Point Park University to help renovate the former Downtown YMCA building into a student and convocation center; $2 million to The Nature Conservancy for conservation efforts in Elk County; and $2.4 million to Innovation Works, an economic development organization.
PG chartWhile the Richard King Mellon Foundation's giving was largely focused on diverse causes around southwestern Pennsylvania, some big foundations give elsewhere.
Bank of New York Mellon, for instance, has its corporate headquarters in New York and major operations in Pittsburgh. It distributed grants of $35 million last year, but that figure includes support of organizations around the world, said Lane Cigna, BNY Mellon spokeswoman.
The Bayer USA Foundation, based at Bayer's U.S. headquarters in Robinson, also boosted its payouts last year, to $6.8 million from $4.9 million in 2009. But the increase was largely driven by grants made by Bayer HealthCare for patient assistance programs, said Rebecca Lucore, executive director of the foundation. Bayer HealthCare does not have operations locally.
A bump in giving by the Pittsburgh Foundation, from $33.7 million in 2009 to $40.5 million last year, was the result of several factors, said John Ellis, foundation spokesman.
Last year, Pittsburgh Foundation merged with the Community Foundation of Westmoreland County, accounting for just over $1 million in paid-out grants.
Also, the total reflects giving by the foundation's supporting organizations, which are private funds launched by individuals or families that operate, usually anonymously, within the foundation.
For example, Charles Kaufman, a local engineer who died last year and left the foundation a gift of $50 million in his estate, had years prior to his death established funds at the foundation that were already being distributed for research, health care and education causes.
First Published March 22, 2011 12:00 am
