Atlantic made grants of $375 million in 2009
Howard Lake | 8 October 2010 | News
Atlantic Philanthropies made 401 grants in 2009 totaling $375 million, an average of $935,000 per grant, according to its latest accounts.
As well as Ireland, Atlantic makes grants in Australia, South Africa, the United States and Viet Nam.
Atlantic is committed to spending the remaining $2.2 billion endowment and completing active grantmaking by 2016. It will become the largest foundation to spend down its endowment, and will close its doors by 2020.
As of 31 December 2009, Atlantic’s net assets were approximately $2.2 billion, which is net of approximately $814 million already committed to grantees. Atlantic’s endowment consists of a diversified portfolio of ‘absolute return strategies, private equity investments and cash’. The total fund portfolio had a 12.9 per cent return against a benchmark of 9.1 per cent.
Altantic also own interests in hotels, resorts, health clubs and retailers through General Atlantic Group Limited (GAGL), a subsidiary.
Grants by programme in 2009 were:
Ageing: $63 million
Children and Youth: $70.0 million
Population and Health: $54.8 million
Reconciliaton and Human Rights: $56.3 million
Founding Chairman: $66 million
Policy and Advocacy: $64.2 million
www.atlanticphilanthropies.org
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.