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U.S. Endowed Foundations Continue To Show Credit Stability Due To Substantial Resources And Strong Management Mar 10 Product Image

U.S. Endowed Foundations Continue To Show Credit Stability Due To Substantial Resources And Strong Management Mar 10

  • Published: March 2010
  • Standard & Poors

FEATURED COMPANIES

  • Alexander Dawson Foundn
  • Disney Enterprises Inc.
  • Hall Family Foundn
  • Helen G. Bonfils Foundn
  • Inglis House Foundn
  • Inst For Advanced Study
  • MORE

Abstract
Endowed foundations depend primarily on their investments to operate. Despite the recent recession and the turbulence in the financial markets, however, in the opinion of Standard & Poor's Ratings Services, the foundations' fiscal 2008 data suggest that the overall credit quality for this small sector remains relatively stable. These institutions entered into the economic downturn with, in our view, substantial wealth levels and a limited amount of debt. Moreover, in general, foundations often have flexible expenses (beyond the IRS-required 5% payout for private foundations). In response to the recession, we have seen that many of these institutions have reduced expenses, limited capital expenditures, and improved cash flow and liquidity. The foundations' investments were down in fiscal 2008. Still, given the...

Companies mentioned in this report are:
- Inst For Advanced Study
- California Infrastructure & Econ Dev Bnk
- Carnegie Institution of Washington
- Disney Enterprises Inc.
- The Walt Disney Co.
- Inglis House Foundn
- Ewing Marion Kauffman Foundn
- Helen G. Bonfils Foundn
- Alexander Dawson Foundn
- Lakeshore Foundation
- READ MORE >

- Inst For Advanced Study
- California Infrastructure & Econ Dev Bnk
- Carnegie Institution of Washington
- Disney Enterprises Inc.
- The Walt Disney Co.
- Inglis House Foundn
- Ewing Marion Kauffman Foundn
- Helen G. Bonfils Foundn
- Alexander Dawson Foundn
- Lakeshore Foundation
- Kaiser Family Foundn
- Andrew W. Mellon Foundation
- J. Paul Getty Trust (The)
- California Endowment (The)
- Hall Family Foundn
- American Legacy Foundation
- Southwest Initiative Foundation
- Nemours Foundn

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