In the face of the recession and shrinking sources of funding, nonprofit organizations in Greater Cincinnati and Northern Kentucky received some good news: The Greater Cincinnati Foundation will keep its funding levels steady for the next three years.
Foundation president Kathy Merchant made the commitment at a Ohio grant-makers forum last week to continue to provide nonprofit organizations with more than $40 million a year, The Enquirer learned Thursday.
The Greater Cincinnati Foundation, a community foundation, manages the charitable activities of hundreds of individuals and dozens of companies throughout the region and distributes grants to nonprofit education, social service, arts, faith-based and other groups.
The 2008 giving year was the largest in foundation history, Merchant said, even though the foundation's asset base - like those of many companies, nonprofits and individuals - has lost ground because of the stock market decline.
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