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Morgan Stanley Foundation at a glanceAlso receives grants: funding profile →

· Private foundation

Morgan Stanley Foundation

Its FY2024 filing reports that it funds preselected organizations and did not take unsolicited requests; check the foundation's own site before ruling it out.

$3.9M
Granted FY2024still arriving
11
Grants FY2024still arriving
4
States reached
$909k
Largest
01What it fundsRead
02The needRead
03Its granteesRead
04Its fieldRead
01What it funds
01100% classified

What it funded, over time

Every grant placed by its stated purpose and the recipient’s mission, by year, FY2017 to 2024.

Education$17MYouth Development$5.1MFood & Nutrition$2.9MCommunity Improvement$2.6MScience & Tech$298kHuman Services$270kHealth$232kRecreation & Sports$55kOther$0
02FY2024 · 11 grants

Where the money goes

Grants by size, and the largest recipients.

By grant size · FY2024

  • $10k–50k2 grants · $45k
  • $50k–250k1 grant · $75k
  • $250k+8 grants · $3.8M
$360,000
Median grant
4
States reached
$16M
Total assets
Largest grants
RecipientAmount
COLLEGE POSSIBLE NATIONAL$908,500
HISPANIC FEDERATION INC$500,000
BRAVEN INCORPORATED$500,000
SPONSORS FOR EDUCATIONAL OPPORTUNITY$492,000
RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK$448,500
IMENTOR INCORPORATED$360,000
A BETTER CHANCE INC$300,000
AMERICA NEEDS YOU$260,000
PREP FOR PREP$75,000
NEW YORK WOMENS FOUNDATION$25,000
AMERICAN INDIAN COLLEGE FUND$20,000
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 (FY17–24, $256k) land where the poverty rate runs at 16%, against an area that typically sits at 9%. 94% of those dollars go to grantees based in above-average-need neighborhoods. Most of its grants land in higher-need ZIPs.

area typical 9%YMCA OF DELAWARE: $2k → 10%GLADE RUN FOUNDATION: $2k → 9%MY NEW RED SHOES: $2k → 7%EXCEPTIONAL CHILDREN'S FOUNDATION: $1k → 14%THE PEARLS AND IVY FOUNDATION OF QUEENS INC: $2k → 13%HOLLABACK: $2k → 20%YMCA OF THE GREATER HOUSTON AREA: $2k → 8%HOMELESS COALITION OF PALM BEACH COUNTY INC: $2k → 11%JUDSON CENTER: $2k → 8%RAINBOW HOMES NON-PROFIT HOUSING CORPORATION: $2k → 16%FAMILY COUNSELING SERVICE OF TUSCALOOSA CO INC: $2k → 17%LIFEBRIDGE COMMUNITY SERVICES INC: $2k → 9%KAREN CARNS FOUNDATION: $2k → 6%CHILDRENS AID AND FAMILY SERVICES INC: $500 → 7%FRANCISCAN CHARITIES INC: $2k → 10%CAMP FATIMA OF NEW JERSEY INC: $2k → 14%SISTER DULCE FOUNDATION: $2k → 10%OUTREACHED ARMS: $1k → 11%GIRLS INCORPORATED OF ALAMEDA COUNTY: $2k → 10%CURRY SENIOR CENTER: $2k → 10%HEIGHTS AND HILLS INC: $2k → 20%YOUTH & FAMILY ALLIANCE DBA LIFEWORKS: $2k → 10%NORTHSIDE INTER-COMMUNITY AGENCY INC: $2k → 11%TARGET HUNGER: $1k → 16%CHRISTIAN SERVICE CENTER FOR CENTRAL FLORIDA INC: $1k → 13%LIFEBRIDGE COMMUNITY SERVICES INC: $500 → 9%PERINTON ECUMENICAL MINISTRIES INC DBA ADVENT HSE: $1k → 14%THE FAMILY PLACE: $1k → 14%A KIDS PLACE OF TAMPA BAY: $2k → 13%LIFEBRIDGE COMMUNITY SERVICES INC: $500 → 9%COMMUNITY BRIDGES INCORPORATED: $2k → 8%JEWISH COMMUNITY CENTER OF ORANGE COUNTY: $2k → 10%BUCKNER CHILDREN AND FAMILY SERVICES INC: $2k → 14%LIGHT & SALT ASSOCIATION: $2k → 16%LIFEBRIDGE COMMUNITY SERVICES INC: $500 → 9%LIFEBRIDGE COMMUNITY SERVICES INC: $500 → 9%JEWISH ALLIANCE OF GREATER RHODE ISLAND: $2k → 14%YMCA OF CENTRAL MARYLAND INC: $500 → 11%FREEFROM: $500 → 14%THE NEW YORK WOMEN'S FOUNDATION: $25k → 17%THE NEW YORK WOMEN'S FOUNDATION INC: $25k → 17%THE NEW YORK WOMEN'S FOUNDATION: $25k → 17%THE NEW YORK WOMEN'S FOUNDATION: $25k → 17%NEW YORK WOMENS FOUNDATION: $25k → 17%THE NEW YORK WOMEN'S FOUNDATION: $25k → 17%THE NEW YORK WOMEN'S FOUNDATION: $25k → 17%THE NEW YORK WOMEN'S FOUNDATION INC: $25k → 17%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

AK
ME
VT
NH
WA
MN
IL
WI
MI
NY
MA
OR
SD
IA
IN
OH
PA
NJ
CT
RI
CA
UT
CO
MO
KY
WV
VA
MD
DE
AZ
NM
KS
AR
TN
NC
SC
DC
HI
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.

80%of every dollar goes to organizations it has funded before.
$22M · 42 repeat orgs$5.5M to everyone else

Grantees it renews have grown median revenue +56% since the first grant, against +35% for those funded once.

42 repeat relationships: 10 still active in FY2024, 32 since wound down; 1 grantees were first funded in FY2024 (too recent to call).

How the two cohorts compare

Re-uppedFunded once

Organizations

42
441

Total granted

$22M
$4.6M

Median revenue growth · since first grant

+56%
+35%

Still filing today

67%
70%

New vs renewed · share of each year

In FY2024, 77% of grant dollars renewed an existing relationship; $909k went to new ones.

50%100%’17’18’19’20’21’22’23’24
RenewedFirst-time

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

’17’18’19’20’21’22’23’24
EducationHuman ServicesHealthArts & CultureYouth DevelopmentPhilanthropyOther
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

  • HISPANIC FEDERATION INC
    8× · 2017–2024 · $2.6M · revenue +187%
  • SF
    SPONSORS FOR EDUCATIONAL OPPORTUNITY INC
    8× · 2017–2024 · $2.2M · revenue +313%
  • RF
    Research Foundation of the City University of New York
    3× · 2022–2024 · $1.9M · revenue +29%

Funded once

  • Feeding America
    one grant, 2021 · $2.9M · revenue +23%
  • TJ
    THE JED FOUNDATIONgraduated
    one grant, 2017 · $100k · revenue +429%
  • TO
    TRUSTEES OF PRINCETON UNIVERSITY
    one grant, 2021 · $45k
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
University of New Haven

The University of New Haven is a student-centered comprehensive university with an emphasis on excellence in liberal arts and professional education. Our mission is to prepare our students to lead purposeful and fulfilling lives in a…

Education
2
Manhattanville University

To educate students to be ethical and socially responsible leaders in a global community.

Education
3
Furman University

The primary mission of furman as a liberal arts institution is to provide a distinctive education in fine arts, humanities, social sciences, mathematics and the sciences, as well as selected professional disciplines.

Education
4
Fordham University

Fordham university, the jesuit university of new york, is committed to the discovery of wisdom and the transmission of learning, through research and through education of the highest quality. for more information, see schedule o.

Education
5
Stony Brook Internists University Faculty Practice Corporation

Provide clinical instruction to and supervision of medical school students, interns and residents and, incident thereto, rendering professional services.

Health
6
Boston Architectural College

The bac is committed to provide excellence in design education grounded in practice and accessible to diverse communities.

—
7
The Trustees of Princeton University

Research, education and general - princeton university is a private not-for-profit, non-sectarian institution of higher learning with approximately 5,700 undergraduate and 3,300 graduate students. 2,500 students graduated in the 2024-2025…

Education
8
Point Park University

Provides innovative education in a dynamic urban setting. dedicated to academic excellence and community engagement,we prepare students of diverse backgrounds with the knowledge, skill,and experience to lead meaningful lives as informed…

—
9
Lehigh University

The university's goal in the coming decade is to advance learning through the integration of teaching, research and service to others. the core of this goal is to prepare graduates to engage with the world and lead lives of meaning. to do…

Education
10
Stony Brook Urology University Faculty Practice Corporation

Provide clinical instruction to and supervision of medical school students, interns and residents and, incident thereto, rendering professional services.

Health
11
Stony Brook Surgical Associates University Faculty Practice Corporation

Provide clinical instruction to and supervision of medical school students, interns and residents and, incident thereto, rendering professional services.

Health
12
Stony Brook Ophthalmology University Faculty Practice Corporation

Provide clinical instruction to and supervision of medical school students, interns and residents and, incident thereto, rendering professional services.

Health
How this is measured
The grantee most central to the portfolio’s shape is Mental Health Foundation of West Michigan; the most unlike its peers is Claremont Mckenna College Alumni Association. 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

372 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. 372 of the 499 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.

2
Load-bearing (≥25% of a budget)
91
Early backer (in before they grew)
352/372
Grantees still filing
270/372
Grew since first funded

Where the money sits, by cause and then by grantee

MORGAN STANLEY FOUNDATION INC: $5,785,541 · EducationMORGAN STANLEY FOUNDATION INCSPONSORS FOR EDUCATIONAL OPPORTUNITY INC: $2,200,000 · EducationSPONSORS FOR EDUCATIONAL OPPORTUNITY INCResearch Foundation of the City University of New York: $1,889,500 · EducationResearch Foundation of the City University of New YorkCOLLEGE POSSIBLE INC: $1,343,700 · EducationCOLLEGE POSSIBLE INCAMERICA NEEDS YOU: $986,000 · EducationAMERICA NEEDS YOUPREP FOR PREP: $600,000 · Education+70 more: $2,659,100 · Education+70 moreA BETTER CHANCE INC: $1,900,000 · OtherA BETTER CHANCE …COLLEGE POSSIBLE NATIONAL: $908,500 · OtherCOLLEGE POSSIBLE…+89 more: $1,379,500 · Other+89 moreIMENTOR INC: $1,600,000 · Youth DevelopmentIMENTOR INCBRAVEN INC: $1,500,000 · Youth DevelopmentBRAVEN INC+5 more: $15,000 · Youth DevelopmentFeeding America: $2,900,000 · Food & NutritionFeeding Ame…HISPANIC FEDERATION INC: $2,575,000 · Community ImprovementHISPANIC F…+2 more: $62,000 · Community ImprovementNEW YORK WOMEN'S FOUNDATION INC: $200,000 · Human Services+13 more: $29,000 · Human ServicesTHE JED FOUNDATION: $100,000 · HealthTHE NORTH CAROLINA AGRICULTURAL FOUNDATION INC: $15,000 · Health+6 more: $12,000 · Health
Education$15,463,841Other$4,188,000Youth Development$3,115,000Food & Nutrition$2,900,000Community Improvement$2,637,000Human Services$229,000Health$127,000

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 budgetMORGAN STANLEY FOUNDATION INC: $5,785,541 over 2y, 42% of budgetFeeding America: $2,900,000 over 1y, 0.1% of budgetHISPANIC FEDERATION INC: $2,575,000 over 8y, 1.4% of budgetSPONSORS FOR EDUCATIONAL OPPORTUNITY INC: $2,200,000 over 8y, 2.5% of budgetA BETTER CHANCE INC: $1,900,000 over 8y, 7.7% of budgetResearch Foundation of the City University of New York: $1,889,500 over 3y, 0.1% of budgetIMENTOR INC: $1,600,000 over 4y, 2.3% of budgetBRAVEN INC: $1,500,000 over 4y, 1.7% of budgetCOLLEGE POSSIBLE INC: $1,343,700 over 2y, 3.3% of budgetAMERICA NEEDS YOU: $986,000 over 5y, 7.8% of budgetPREP FOR PREP: $600,000 over 8y, 0.9% of budgetTRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA: $390,000 over 5y, 0.0% of budgetCornell University: $210,000 over 5y, 0.0% of budgetPresident and Fellows of Harvard College: $202,100 over 4y, 0.0% of budgetNEW YORK WOMEN'S FOUNDATION INC: $200,000 over 8y, 0.2% of budgetAMERICAN INDIAN COLLEGE FUND: $160,000 over 8y, 0.1% of budgetTHE TRUSTEES OF COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK: $135,000 over 4y, 0.0% of budgetDUKE UNIVERSITY: $105,000 over 5y, 0.0% of budgetTHE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY: $105,000 over 5y, 0.0% of budgetUniversity of Chicago: $105,000 over 4y, 0.0% of budgetTHE JED FOUNDATION: $100,000 over 1y, 2.1% of budgetMassachusetts Institute of Technology: $75,000 over 4y, 0.0% of budgetUNIVERSITY OF MARYLAND COLLEGE PARK FOUNDATION INC: $60,000 over 2y, 0.0% of budgetTHE HOWARD UNIVERSITY: $60,000 over 3y, 0.0% of budgetBROWN UNIVERSITY: $60,000 over 3y, 0.0% of budgetUniversity of Michigan: $60,000 over 4y, 7.1% of budgetTrustees of Dartmouth College: $60,000 over 4y, 0.0% of budgetWASHINGTON UNIVERSITY: $45,000 over 2y, 0.0% of budgetEmory University: $45,000 over 2y, 0.0% of budgetTHE BARUCH COLLEGE FUND: $45,000 over 2y, 0.1% of budgetGEORGETOWN UNIVERSITY: $45,000 over 1y, 0.0% of budgetNew York University: $30,000 over 1y, 0.0% of budgetBABSON COLLEGE: $30,000 over 2y, 0.0% of budgetUNIVERSITY OF VIRGINIA FOUNDATION: $30,000 over 2y, 0.1% of budgetUNIVERSITY OF ROCHESTER: $30,000 over 2y, 0.0% of budgetTOWSON UNIVERSITY FOUNDATION INC: $30,000 over 1y, 0.3% of budgetUniversity of Miami: $30,000 over 2y, 0.0% of budgetAMHERST COLLEGE TRUSTEES: $30,000 over 1y, 0.0% of budgetWilliams College: $30,000 over 1y, 0.0% of budgetTHE TRUSTEES OF THE STEVENS INSTITUTE OF TECHNOLOGY: $30,000 over 2y, 0.0% of budgetLoyola University Maryland Inc: $30,000 over 2y, 0.0% of budgetUNIVERSITY OF SOUTHERN CALIFORNIA: $30,000 over 2y, 0.0% of budgetJOHNS HOPKINS UNIVERSITY: $15,500 over 2y, 0.0% of budgetSYRACUSE UNIVERSITY: $15,000 over 1y, 0.0% of budgetELIZABETHTOWN COLLEGE: $15,000 over 1y, 0.0% of budgetMERCY UNIVERSITY: $15,000 over 1y, 0.0% of budgetSALISBURY UNIVERSITY FOUNDATION INC: $15,000 over 1y, 0.2% of budgetVILLANOVA UNIVERSITY: $15,000 over 1y, 0.0% 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.

  • Who funds MORGAN STANLEY FOUNDATION INC ↗
  • Who funds Feeding America ↗
  • Who funds HISPANIC FEDERATION INC ↗
  • Who funds SPONSORS FOR EDUCATIONAL OPPORTUNITY INC ↗
  • Who funds A BETTER CHANCE INC ↗
  • Who funds Research Foundation of the City University of New York ↗
  • Who funds IMENTOR INC ↗
  • Who funds BRAVEN INC ↗
  • Who funds COLLEGE POSSIBLE INC ↗
  • Who funds AMERICA NEEDS YOU ↗
  • Who funds PREP FOR PREP ↗
  • Who funds TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA ↗
  • Who funds Cornell University ↗
  • Who funds President and Fellows of Harvard College ↗
  • Who funds NEW YORK WOMEN'S FOUNDATION INC ↗
  • Who funds AMERICAN INDIAN COLLEGE FUND ↗
  • Who funds THE TRUSTEES OF COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK ↗
  • Who funds DUKE UNIVERSITY ↗
  • Who funds THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY ↗
  • Who funds University of Chicago ↗
  • Who funds THE JED FOUNDATION ↗
  • Who funds Massachusetts Institute of Technology ↗
  • Who funds UNIVERSITY OF MARYLAND COLLEGE PARK FOUNDATION INC ↗
  • Who funds THE HOWARD UNIVERSITY ↗
  • Who funds BROWN UNIVERSITY ↗
  • Who funds University of Michigan ↗
  • Who funds Trustees of Dartmouth College ↗
  • Who funds WASHINGTON UNIVERSITY ↗
  • Who funds Emory University ↗
  • Who funds THE BARUCH COLLEGE FUND ↗

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.

Morgan Stanley Founda…AT&T FoundationKpmg US Foundation IncS&P Global Foundation…The Achelis & Bodman …National Collegiate A…Pwc Foundation IncGolf Charitable Found…The Goldman Sachs Cha…Ernst & Young Foundat…Strada Education Foun…United Way Worldwide
Morgan Stanley Foundation IncNY191.2× affinity172 shared granteesties to 11 of 11Hover any node to trace its alignments.Compare side by side →

Open a dossier: Morgan Stanley Foundation Inc · AT&T Foundation · Kpmg US Foundation Inc · S&P Global Foundation Fka the McGraw-Hill Research Foundation · The Achelis & Bodman Foundation Co Manice & Budd LLP · National Collegiate Athletic Association · Pwc Foundation Inc · Golf Charitable Foundation of Greater Des Moines · The Goldman Sachs Charitable Gift Fund · Ernst & Young Foundation · Strada Education Foundation Inc · United Way Worldwide

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 Morgan Stanley Foundation funds: left to right is the share of its income from government, bottom to top the share from Morgan Stanley Foundation. Bigger dots raise more.

2024
’20’21’22’23’24’25
no gov · 180%1%3%6%10%funder's share of their income ↑0%25%50%75%100%share of the org’s income from government →median 4%
  • Massachusetts Institute of Technology: 35% of income from government
  • Lifebridge Community Services Inc: 32% of income from government
  • University of Delaware: 30% of income from government
  • Waltham Boys & Girls Club Inc: 29% of income from government
  • Johns Hopkins University: 12% of income from government
  • The Trustees of the Stevens Institute of Technology: 12% of income from government
  • Maryland New Directions Inc: 8% of income from government
  • President and Fellows of Harvard College: 7% of income from government
  • Northeastern University: 7% of income from government
  • Loyola University Maryland Inc: 6% of income from government
  • University of Miami: 5% of income from government
  • Glen Echo Park Partnership for Arts and Culture Inc: 5% of income from government
  • Lunch Break Inc: 4% of income from government
  • Mote Marine Laboratory Inc: 4% of income from government
  • University of Maryland Baltimore Foundation Inc: 3% of income from government
  • Babson College: 3% of income from government
  • Trustees of Boston College: 3% of income from government
  • United Way of Southeastern Connecticut Inc: 2% of income from government
  • The Ballet School of Stamford: 2% of income from government
  • The Jewish Federation of Greater New Haven Inc: 1% of income from government
  • Wesleyan University: 1% of income from government
  • Wellesley College: 1% of income from government
  • Young Men's Christian Association of Delaware: 1% of income from government
  • Salisbury University Foundation Inc: 0% of income from government
  • Amherst College Trustees: 0% of income from government
  • Saint Peter's University: 0% of income from government
  • Williams College: 0% of income from government
  • The College of New Jersey Foundation Inc: 0% of income from government
no gov moneyreceives it· size = income
18get no government money at all
36report 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.

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 499 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 2024, released 2024. Filings run roughly 12 to 24 months behind; figures are dated accordingly.

Source object · view filing

Play a game based on Morgan Stanley’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