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Greater Milwaukee Foundation 2003: Highest Assets, Highest Grants and Second-Highest Gifts
2/9/2004

(Milwaukee, Wisconsin)--The Greater Milwaukee Foundation reported that it was holding an all-time high of $377.5 million in assets at the close of 2003.  The Foundation also awarded a record $25.9 million in grants, up 16.7% over the previous high, set in 2002, and received the second highest level of contributions in its history--topping $26.2 million.

“The level of generosity that helped fuel the Foundation’s growth last year reflects a growing commitment from a broad base of individuals who care about the greater Milwaukee community. It’s outstanding, especially when you recall that the lackluster economy only began to recover towards the end of 2003,” said Doug Jansson, Greater Milwaukee Foundation president.

In 2002 Foundation gifts hit a high of $52.5 million. This included more than $33 million from two private foundations (Bucyrus-Erie and the West Bend-based Ziegler Family Foundation) and the Mary Nohl estate. Jansson pointed out that the $26.2 million in gifts for 2003 included no individual gifts at comparably high levels.

Gifts to the Foundation that were added to existing funds or created new funds included: $21 million from donors in Milwaukee County, $1.2 million from Ozaukee County donors and $770,000 from Washington County donors. Donors in Waukesha County, where the Foundation is celebrating fifty years of grantmaking (1954-2004), contributed $2.9 million. The balance of gifts came from donors outside of the greater Milwaukee area. The Foundation has geographic affiliates in Waukesha, Washington and Ozaukee County to help donors with their local philanthropy. Of total gifts, advised fund donors added $12.6 million to their funds.

“Donors use their funds to recommend grants both within the greater Milwaukee community and elsewhere. In recent years, the Foundation has improved the flexibility for making grant recommendations. Our interest is in helping donors achieve their philanthropic goals, wherever that may take them,” said Jansson.

Most donors establish permanent funds within the Foundation; intended as lasting legacies, they are invested and grow over time. Donors may choose to create different kinds of funds. One of the most popular is the advised fund. 407 of the more than 850 funds in the Foundation are advised funds. Donors make grant recommendations from their advised funds to support the charitable causes and organizations they care about.

The Greater Milwaukee Foundation is made up of individual charitable funds established by local individuals and families to support predominantly local causes.  The funds are invested as a group, and a portion of their investment proceeds is used to make grants.  As of December 31, 2003, the Foundation, one of the oldest and largest community foundations in the U.S., founded in 1915, was holding the highest level of assets in its history of approximately $377.5 million.

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