There's good news and bad news from Ohio's large philanthropic foundations and the non-profit groups that depend on them for millions of dollars in grants. The good news is that the foundations' overall financial picture probably isn't going to get much bleaker this year, compared to last. But the bad news is - it's not expected to get much brighter either, and last year was a "down" year. George Espy heads the foundations' statewide association,the Ohio Grantmakers Forum.
Many local non-profit groups depend on the corporate and community foundations for grants. Among them ---- food banks, boys and girls clubs, and YMCAs. The foundations are hoping for a bigger recovery in the stock market later this year, so they will earn extra money and can pass it on in the form of grants.