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Bnsf Railway Foundation at a glance

· Private foundation

Bnsf Railway Foundation

Its FY2025 filing reports that it accepted unsolicited grant applications.

$7.0M
Granted FY2025still arriving
993
Grants FY2025still arriving
37
States reached
$500k
Largest
01What it fundsRead
02The needRead
03Its granteesRead
04Its fieldRead
05Through PlinthRead
01What it funds
0198% classified

What it funded, over time

Every grant placed by its stated purpose and the recipient’s mission, by year, FY2020 to 2025.

Education$11MArts & Culture$7.0MPhilanthropy$5.6MHealth$5.0MHuman Services$3.6MYouth Development$3.2MFood & Nutrition$2.1MRecreation & Sports$1.7MOther$0
02FY2025 · 993 grants

Where the money goes

Grants by size, and the largest recipients.

By grant size · FY2025

  • Under $10k829 grants · $1.9M
  • $10k–50k144 grants · $2.1M
  • $50k–250k17 grants · $1.6M
  • $250k+3 grants · $1.4M
$2,500
Median grant
37
States reached
$23M
Total assets
Largest grants
RecipientAmount
AMERICAN HEART ASSOCIATION$500,000
MONTANA HISTORICAL SOCIETY$500,000
NATIONAL JUNETEENTH MUSEUM$400,000
NATIONAL MEDAL OF HONOR MUSEUM FOUNDATION$200,000
DOWNTOWN FORT WORTH INITIATIVES INC$200,000
NATIONAL FFA FOUNDATION$102,500
UNITED WAY OF TARRANT CO$100,000
NATIONAL FISH AND WILDLIFE FOUNDATION$100,000
WHITMAN COLLEGE$100,000
YELLOWSTONE ICE FOUNDATION$100,000
NORTH DAKOTA STATE UNIVERSITY DEVELOPMENT FDN$100,000
BOY SCOUTS OF AMERICA$100,000
U W DANIEL J EVANS GRAD SCHOOL OF PUBLIC AFFAIR$100,000
KANSAS STATE UNIVERSITY FOUNDATION$75,000
VAN CLIBURN FOUNDATION$70,000
02The need
03

Does the money reach high-need areas?

Each grant placed by the hardship in its grantee’s ZIP, against the area’s typical level.

show:

Its human-services grants (FY20–25, $975k) land where the poverty rate runs at 12%, against an area that typically sits at 10%. 86% of those dollars go to grantees based in above-average-need neighborhoods. Most of its grants land in higher-need ZIPs.

area typical 10%BONNER COMMUNITY FOOD CENTER INC: $25k → 12%YOUNG MEN'S CHRISTIAN ASSN OF BRAINERD MINNESOTA: $10k → 11%STANFORD OPEN: $10k → 12%HAPPY HILL FARM: $17k → 10%HELPING HANDS MINISTRIES INC: $10k → 13%TURNING POINTE AUTISM FOUNDATION: $10k → 7%MUTUAL GROUND INC: $10k → 8%HAVEN HOUSE FAMILY SERVICES CENTER: $10k → 12%MOUNTAIN SHADOW ASSN: $20k → 10%HAPPY HILL FARM: $16k → 10%FOOD BANK OF NORTHEAST ARKANSAS INC: $10k → 17%JOSEPH F WELDY HOME FOR CHILDREN INC: $10k → 20%NORM WAITT SR YOUNG MENS CHRISTIAN ASSN: $10k → 12%INNOCENCE PROJECT INC: $10k → 17%HAPPY HILL FARM: $10k → 10%HELPING HAND HOME FOR CHILDREN: $10k → 10%DO A LITTLE GOOD FDN: $10k → 11%NORTHWEST ASSOCIATION FOR BLIND ATHLETES: $10k → 9%SKAGIT DOMESTIC VIOLENCE AND SEXUAL ASSAULT SERVIC: $10k → 11%PATHWAYS SHELTER FOR THE HOMELESS INC: $10k → 11%GREATER MISSOULA FAMILY YOUNG MENS CHRISTIAN ASSOC: $50k → 9%MEALS ON WHEELS OF JOHNSON AND ELLIS COUNTIES: $10k → 9%YOUTH OUTREACH SERVICES: $10k → 14%GREATER MISSOULA FAMILY YOUNG MEN CHRISTIAN ASSOC: $10k → 9%CORNERSTONE ASSISTANCE NETWORK INC: $10k → 9%KIDS ACADEMY: $10k → 10%YMCA OF CASS AND CLAY COUNTIES: $10k → 12%AMERICAN RED CROSS OF NEW MEXICO: $10k → 14%TULSA CORNERSTONE ASSISTANCE NETWORK INC: $10k → 15%ST VINCENT DE PAUL SOCIETY OF NEEDLES INC: $15k → 14%BACK TO SCHOOL ROUNDUP: $10k → 11%AMERICAN RED CROSS: $10k → 14%BACK TO SCHOOL ROUNDUP: $10k → 11%BACK TO SCHOOL ROUNDUP: $10k → 11%COMMUNITY ENRICHMENT CENTER INC: $10k → 11%AMERICAN RED CROSS NORTH TEXAS REGION: $100k → 14%AMERICAN RED CROSS NORTH TEXAS REGION: $75k → 14%AMERICAN RED CROSS NORTH TEXAS REGION: $50k → 14%JAYHAWK AREA AGENCY ON AGING: $10k → 14%AMERICAN RED CROSS NORTH TEXAS REGION: $50k → 14%AMERICAN RED CROSS NORTH TEXAS REGION: $30k → 14%TEAM BIG RED CHALLENGE: $10k → 13%METROPOLITAN FAMILY SERVICES: $10k → 14%LENA POPE HOME INC: $15k → 11%LENA POPE HOME INC: $15k → 11%LENA POPE HOME INC: $15k → 11%LENA POPE HOME INC: $15k → 11%LENA POPE HOME INC: $15k → 11%0%20%40%50%more need →
grant to an above-average-need area below average· circle size = grant amount
How this is measured
Matched: human-services grants are those whose grantee’s IRS cause code is Human Services. Placed by people below the poverty line in the grantee’s ZIP, averaged from the tracts in that ZIP.

Which US states its grants reach

VT
NH
WA
ID
MT
ND
MN
IL
WI
MI
NY
MA
OR
NV
WY
SD
IA
IN
OH
PA
NJ
CT
RI
CA
UT
CO
NE
MO
KY
VA
MD
DE
AZ
NM
KS
AR
TN
NC
SC
DC
HI
OK
LA
MS
AL
GA
TX
FL
How this is measured
US grants placed by each grantee’s ZIP, which can differ from where services are delivered. Need from public data (U.S. Census/ACS, CDC PLACES, Eviction Lab, USDA), shown as context about the area, never attributed to the funder’s giving.
03Its grantees
repeat funding

Who it funds again

Organizations funded in more than one year, against those funded once.

83%of every dollar goes to organizations it has funded before.
$38M · 1115 repeat orgs$8.0M to everyone else

Grantees it renews have grown median revenue +17% since the first grant, against +12% for those funded once.

1115 repeat relationships: 444 still active in FY2025, 671 since wound down; 97 grantees were first funded in FY2025 (too recent to call).

How the two cohorts compare

Re-uppedFunded once

Organizations

1115
755

Total granted

$38M
$6.7M

Median revenue growth · since first grant

+17%
+12%

Still filing today

58%
53%

New vs renewed · share of each year

In FY2025, 81% of grant dollars renewed an existing relationship; $1.3M went to new ones.

50%100%’20’21’22’23’24’25
RenewedFirst-time

Where new relationships form · theme of each grantee’s first grant

’20’21’22’23’24’25
Human ServicesArts & CulturePhilanthropyHealthEducationYouth DevelopmentOther
How this is measured
First-time means a grantee’s first year in the filing window; renewed means funded in an earlier year too. The renewed share climbs naturally as a portfolio matures, so the signal is a year that bucks it (a wave of new grantees). The earliest year is left-censored: relationships that predate the data read as new. Theme is the grantee’s IRS cause.

Backed again, and grew

  • AH
    American Heart Association Inc
    6× · 2020–2025 · $2.4M · revenue +53%
  • TC
    TEXAS CHRISTIAN UNIVERSITY
    6× · 2020–2025 · $1.5M · revenue +40%
  • NF
    NATIONAL FISH AND WILDLIFE FOUNDATION
    6× · 2020–2025 · $1.4M · revenue +48%

Funded once

  • NU
    NADABURG UNIFIED SCHOOL DIST 81 STUDENT ARCHERY
    one grant, 2024 · $120k
  • FO
    FRIENDS OF DOON FOUNDATION
    one grant, 2022 · $100k · revenue -49%
  • TS
    THE SALVATION ARMY OF NORTH TEXAS
    one grant, 2023 · $100k
How this is measured

Repeat means funded in two or more distinct years. Growth and survival are read from each grantee’s own subsequent IRS filings.

04Its field

Closest unfunded matches

The nonprofits that most resemble its grantees but are not funded by it, scored along the direction from the rest of the field toward the portfolio. A resemblance in what they say they do, not a recommendation.

1
United Way of Ne Minnesota

Invest in nonprofits, programs, collaborations that equip, empower and create opportunities for all to thrive.

—
2
Regional West Health Services

Health care services for the people of western nebraska and eastern wyoming.

Health
3
United Way of East Central Iowa

Unite the caring power of communities to invest in effective solutions to improve lives.

Philanthropy
4
Colorado Gives Foundation

We connect people, ideas, and nonprofits to make good happen.

Philanthropy
5
United Way of Middle Tennessee Inc

Uwgn unites the community and mobilizes resources so that every child, individual & family thrives

Philanthropy
6
Midwest Dairy Association

Midwest dairy works with others to give consumers an excellent dairy experience increasing sales, fostering innovation, and inspiring consumer confidence of dairy products and practices.

—
7
Goodwill Industries of Tulsa Inc

Goodwill empowers people to reach their full potential through work opportunities, training, and support services.

Employment
8
Minnesota Business Partnership

To maintain a high quality of life for all minnesotans.

—
9
United Food Bank

Uniting communities to alleviate hunger.

Food & Nutrition
10
The Food Bank for Central & Northeast Missouri

Hunger relief network sharing millions of pounds of nutritious food with thousands of missourians.

Food & Nutrition
11
Goodwill Industries of the Valley Works

Through the work of goodwill, people will have the opportunity to achieve their greatest potential.

Human Services
12
Homeward Bound Inc

Provide innovative, life- enriching services for individuals with disabilities.

Human Services
How this is measured
The grantee most central to the portfolio’s shape is Volunteers of America Northern Rockies; the most unlike its peers is Greentrike. Resemblance is measured on each organization’s own IRS 990 mission text; it reflects how work is described, not its quality or impact.
04the grantee network

1136 grantees tracked through their own filings, 2017–2025.

Each grant beside the grantee’s revenue from every source, year by year.

How this is measured

Counted here: distinct organizations funded across 2017 to 2025, not grant rows in a single year, so this will not match the grant count on the cover. 1136 of the 2,000 grantees resolved in that span have returns of their own we could reconcile.

Each grantee is resolved to its own IRS returns. Association, dated; never a causal claim.

15
Load-bearing (≥25% of a budget)
239
Early backer (in before they grew)
1112/1136
Grantees still filing
714/1136
Grew since first funded

Where the money sits, by cause and then by grantee

DEPARTMENT OF PUBLIC HEALTH & HUMAN SERVICES: $2,000,000 · OtherDEPARTMENT OF PUBLIC HEALTH & HUMAN SERVICESTHE SALVATION ARMY DFW METROPLEX COMMAND: $750,000 · OtherTHE SALVATION ARMY DFW METROPLEX COMMANDNorthwestern University: $650,000 · OtherNorthwestern University+106 more: $8,217,855 · Other+106 moreTEXAS CHRISTIAN UNIVERSITY: $1,530,750 · EducationTEXAS CHRISTIAN UNI…KANSAS STATE UNIVERSITY FOUNDATION: $1,134,295 · EducationKANSAS STATE UNIVER…THE GEORGE W BUSH FOUNDATION: $700,000 · EducationTHE GEORGE W BUSH F…University of Illinois Foundation: $300,950 · EducationUniversity of Illin…North Dakota State University Foundation: $300,000 · EducationNorth Dakota State …UNIVERSITY OF COLORADO FOUNDATION: $250,000 · Education+15 more: $1,024,855 · Education+15 moreUNITED WAY OF TARRANT COUNTY: $997,181 · PhilanthropyUNITED WAY OF…GREATER TWIN CITIES UNITED WAY: $248,000 · PhilanthropyGREATER TWIN …Boy Scouts of America Longhorn Council Properties Foundation Inc: $189,724 · PhilanthropyUNITED WAY OF METROPOLITAN CHICAGO INC: $170,000 · PhilanthropyUNITED WAY INC: $150,000 · PhilanthropyUNITED WAY OF LINCOLN AND LANCASTER COUNTY: $132,000 · PhilanthropyUNITED WAY OF KAW VALLEY INC: $127,000 · PhilanthropyCOMMUNITY FOUNDATION OF NORTH TEXAS (TAX: $126,000 · Philanthropy+24 more: $1,428,182 · Philanthropy+24 moreAmerican Heart Association Inc: $2,359,971 · HealthAmerican H…THE WOMEN'S CENTER OF TARRANT COUNTY INC: $132,030 · HealthMARCH OF DIMES INC: $96,397 · Health+4 more: $227,662 · Health+4 moreNATIONAL JUNETEENTH MUSEUM: $800,000 · Arts & CultureNATIONAL J…NATIONAL MEDAL OF HONOR MUSEUM FOUNDATION: $614,100 · Arts & CultureNATIONAL M…Kansas State Historical Society Inc: $250,000 · Arts & CultureKansas Sta…SMITHSONIAN INSTITUTION: $250,000 · Arts & CultureSMITHSONIA…Van Cliburn Foundation Inc: $170,000 · Arts & CultureVan Clibur…ARIZONA STATE RAILROAD MUSEUM FOUNDATION AND CENTER FOR EDUCATION: $110,000 · Arts & CultureThe Army Historical Foundation Inc: $100,000 · Arts & Culture+8 more: $434,771 · Arts & Culture+8 moreEVENT FACILITIES FORT WORTH INC: $800,000 · Youth DevelopmentNational FFA Foundation Inc: $511,350 · Youth DevelopmentBOYS AND GIRLS CLUB OF GREATER MEMPHIS: $150,000 · Youth DevelopmentTULSA DREAM CENTER INC: $130,000 · Youth DevelopmentFORT WORTH STOCK SHOW SYNDICATE: $104,766 · Youth DevelopmentBOYS & GIRLS CLUBS OF GREATER TARRANT COUNTY INC: $93,650 · Youth DevelopmentSTRIDER EDUCATION FOUNDATION INC: $93,000 · Youth DevelopmentBOYS & GIRLS CLUBS OF AMERICA: $72,500 · Youth Development+3 more: $156,400 · Youth DevelopmentNATIONAL FISH AND WILDLIFE FOUNDATION: $1,425,000 · Animals3 HEARTS FARM ANIMAL RESCUE: $103,821 · AnimalsTHE DREAMPOWER FOUNDATION: $64,865 · AnimalsChicago Zoological Society: $60,500 · Animals+1 more: $43,180 · Animals
Other$11,617,855Education$5,240,850Philanthropy$3,568,087Health$2,816,060Arts & Culture$2,728,871Youth Development$2,111,666Animals$1,697,366

Showing the 200 largest grantees by grant value.

Each grantee by its size and the funder’s share of it; top left is load-bearing

25%50%75%100%$100k$1.0M$10M$100Mgrantee revenue →↑ funder's share of their budgetAmerican Heart Association Inc: $2,359,971 over 6y, 0.1% of budgetTEXAS CHRISTIAN UNIVERSITY: $1,530,750 over 6y, 0.1% of budgetNATIONAL FISH AND WILDLIFE FOUNDATION: $1,425,000 over 6y, 0.1% of budgetKANSAS STATE UNIVERSITY FOUNDATION: $1,134,295 over 6y, 0.1% of budgetUNITED WAY OF TARRANT COUNTY: $997,181 over 6y, 0.9% of budgetNATIONAL JUNETEENTH MUSEUM: $800,000 over 2y, 7.3% of budgetEVENT FACILITIES FORT WORTH INC: $800,000 over 4y, 30% of budgetTHE GEORGE W BUSH FOUNDATION: $700,000 over 4y, 0.5% of budgetNorthwestern University: $650,000 over 5y, 0.0% of budgetNATIONAL MEDAL OF HONOR MUSEUM FOUNDATION: $614,100 over 4y, 0.6% of budgetNational FFA Foundation Inc: $511,350 over 5y, 0.6% of budgetAmerican National Red Cross & Its Constituent Chapters and Branches: $341,175 over 6y, 0.0% of budgetFARM FOUNDATION: $340,000 over 5y, 2.8% of budgetUniversity of Illinois Foundation: $300,950 over 5y, 0.0% of budgetNorth Dakota State University Foundation: $300,000 over 3y, 0.1% of budgetKansas State Historical Society Inc: $250,000 over 5y, 7.7% of budgetAMERICAN INDIAN SCIENCE AND ENGINEERING SOCIETY: $250,000 over 5y, 0.9% of budgetSMITHSONIAN INSTITUTION: $250,000 over 2y, 0.0% of budgetUNIVERSITY OF COLORADO FOUNDATION: $250,000 over 5y, 0.0% of budgetGREATER TWIN CITIES UNITED WAY: $248,000 over 6y, 0.1% of budgetDOWNTOWN FORT WORTH INITIATIVES INC: $200,000 over 1y, 3.3% of budgetBoy Scouts of America Longhorn Council Properties Foundation Inc: $189,724 over 5y, 1.6% of budgetUnited Way of Greater Kansas City Inc: $180,000 over 6y, 0.1% of budgetUNITED WAY OF KNOX COUNTY INC: $180,000 over 6y, 8.2% of budgetUNITED WAY OF METROPOLITAN CHICAGO INC: $170,000 over 6y, 0.1% of budgetVan Cliburn Foundation Inc: $170,000 over 4y, 0.8% of budgetEMPORIA STATE UNIVERSITY FOUNDATION: $164,030 over 6y, 0.2% of budgetSHARE OUR STRENGTH: $150,100 over 2y, 0.1% of budgetUNITED WAY OF WESTERN NEBRASKA: $150,000 over 6y, 5.9% of budgetUNITED WAY INC: $150,000 over 6y, 0.1% of budgetBOYS AND GIRLS CLUB OF GREATER MEMPHIS: $150,000 over 6y, 0.6% of budgetLINCOLN PARKS AND RECREATION FOUNDATION: $133,333 over 6y, 1.2% of budgetTHE WOMEN'S CENTER OF TARRANT COUNTY INC: $132,030 over 6y, 0.7% of budgetUNITED WAY OF LINCOLN AND LANCASTER COUNTY: $132,000 over 6y, 0.3% of budgetTULSA DREAM CENTER INC: $130,000 over 3y, 5.3% of budgetUNITED WAY OF KAW VALLEY INC: $127,000 over 5y, 0.5% of budgetCOMMUNITY FOUNDATION OF NORTH TEXAS (TAX: $126,000 over 2y, 0.1% of budgetLENA POPE HOME INC: $112,000 over 6y, 0.1% of budgetARIZONA STATE RAILROAD MUSEUM FOUNDATION AND CENTER FOR EDUCATION: $110,000 over 6y, 55% of budgetFORT WORTH STOCK SHOW SYNDICATE: $104,766 over 4y, 0.5% of budget3 HEARTS FARM ANIMAL RESCUE: $103,821 over 4y, 69% of budgetGLACIER NATIONAL PARK CONSERVANCY: $103,800 over 6y, 0.4% of budgetTRANSFORM 1012 N MAIN STREET: $100,100 over 3y, 1.4% of budgetThe Army Historical Foundation Inc: $100,000 over 2y, 0.5% of budgetFRIENDS OF DOON FOUNDATION: $100,000 over 1y, 20% of budgetBOARD OF TRUSTEES OF WHITMAN COLLEGE: $100,000 over 1y, 0.1% of budgetYELLOWSTONE ICE FOUNDATION: $100,000 over 1y, 1.8% of budgetGalesburg Public Library Foundation: $100,000 over 1y, 6.9% of budget
Grantee by grantee: a decade per organization, before and after funding

A decade per grantee: revenue shaded, grants as bars, all rows on one timeline.

Co-funders

Grantmakers whose grantees overlap with this funder’s far more than size alone predicts. Closer means stronger alignment; arcs show where they also fund each other. Here they form a tightly interlocked group: most of these funders back each other's grantees too.

Thomas M Helen McKee …Sid W Richardson Foun…Amon G Carter Foundat…Garvey Texas Foundati…Paul E Andrews Jr Fou…Amon G Carter-Star Te…R4 FoundationThe Morris FoundationLeo Potishman Foundat…Helen Irwin Littauer …Mary Potishman Lard T…Ann L Rhodes and Caro…
Thomas M Helen McKee & John P Ryan Fo John P Ryan Foundation IncTX94.7× affinity85 shared granteesties to 11 of 11Hover any node to trace its alignments.Compare side by side →

Open a dossier: Thomas M Helen McKee & John P Ryan Fo John P Ryan Foundation Inc · Sid W Richardson Foundation · Amon G Carter Foundation · Garvey Texas Foundation Inc · Paul E Andrews Jr Foundation · Amon G Carter-Star Tele Emply Fund · R4 Foundation · The Morris Foundation · Leo Potishman Foundation Xxxxx3002 · Helen Irwin Littauer Educational Trust · Mary Potishman Lard Trust Walker C Friedman Co Trustee · Ann L Rhodes and Carol Greene Rhodes

How this is measured
Affinity is a Gamma-Poisson posterior co-funding rate, re-centered on the typical rate, so thin evidence shrinks toward no signal. Overlap is association, not proof of shared intent.

How much its grantees rely on government

Each dot is one organization Bnsf Railway Foundation funds: left to right is the share of its income from government, bottom to top the share from Bnsf Railway Foundation. Bigger dots raise more.

2024
’20’21’22’23’24’25
no gov · 40%5%19%42%75%funder's share of their income ↑0%25%50%75%100%share of the org’s income from government →median 25%
  • United Way of the Columbia-Willamette: 25% of income from government
no gov moneyreceives it· size = income
4get no government money at all
57report government grants on their 990 we could not trace to a source (not plotted)
0rely on government for over half their income
typical government reliance, FY20–25
How this is measured
Government income is each org’s traced federal awards (USASpending grants and contracts) plus state payments (open checkbooks) as a share of its total revenue (IRS Form 990); the self-reported government-grant line (990 line 1e) is carried for cross-check: a grantee that reports government grants we could not trace to a source is left off the chart rather than shown as receiving none. An association, not a claim that a grant caused the public funding. Coverage is precision-first, a floor rather than a census; state records exist for 9 states, so a grantee outside them shows no state figure (dimmed) rather than a false zero. Federal award amounts are obligations, which can span years, so a single-year share is indicative. 990 filings lag 12 to 24 months.
05Through Plinth

Warm introductions · Powered by PlinthPlus

How do I get to Bnsf Railway Foundation?

Find your warmest path to Bnsf Railway Foundation through trustees and officers whose names appear on both boards. Search for your organization and Plinth traces the shortest route it can evidence.

Each link is a name appearing on two organizations’ public IRS 990 filings, matched on that name and, where the filings support it, on location. A same-state match has geographic support, which is a second matching feature rather than confirmation that the two are one person; a cross-state one is the likeliest to be two people who share a name. Every hop shows its tier, low-confidence and distant paths are held back rather than guessed, and it is worth confirming the person before you use the introduction.

On method. Every financial figure here is read from IRS e-file XML, the funder’s own 990/990-PF, and from the multi-year returns of the 2000 grantees we resolved, each linked to its source. Grantee outcomes are each organization’s own program-service reporting (Form 990, Part III), read as association with funding, never as caused by it. Low-confidence name matches are suppressed rather than guessed. How we build these →

How this is measured
Each figure carries one of six labels. Filed is what the funder reported on its return. Official is another government record about an organization, such as a federal award or a charity register, joined by name where no shared identifier exists. Resolved is an identity we worked out where the filing named a recipient without an EIN, kept only above a measured confidence threshold. Computed is arithmetic over those, like themes, portfolio clusters and co-funder strength. Context is a statistic about a place rather than about an organization, which is what the need overlay is: it describes the area a grantee’s address sits in, not where its work lands. Inferred is drawn by a model from text, like the partnerships read out of public news and organization websites. Each is labeled where it appears.

Generated from the IRS Form 990-PF e-file return for fiscal year 2025, released 2025. Filings run roughly 12 to 24 months behind; figures are dated accordingly.

Source object · view filing

Play a game based on Bnsf Railway’s filings →

More from the funding graph

The unnamed billions
grants reported with no recipient in the public record
The regranting layer
51% of grant dollars land in the regranting layer
The DAF merry-go-round
$9.7B circulates between donor-advised funds
The endowment market
who holds foundation money, and what just moved
The camps
funders cluster by geography, not ideology
By state
where grant money is based, and what stays home