Large gifts from individuals down; foundations, up

Charitable gifts of more than $1 million from individuals fell by a third in the second half of 2008, compared with the same period a year earlier, according to the just-released Million Dollar List compiled by the Center on Philanthropy at Indiana University. The number of $1 million-and-up gifts from foundations, however, increased 10 percent from the same period a year earlier, to 551, while the number of corporate gifts at that level remained the same at 146. The drop in individual giving is the second-largest during the last half of a year to occur in the past decade. The largest drop, 35 percent, was in 2001.