In addition to new and increasing asset bases, five of the states had an increase in giving that significantly outpaced the increase in foundation assets.
In Oklahoma, for example, giving increased by 51.8% from 2009-2011, while foundation assets increased 24.1%. This was due to a number of factors, including substantial increases in giving by several foundations, grants being made out of the asset base of some foundations, and a few foundations closing down during this time period.
Arkansas was the only state in the region that saw increased giving over the two-year period, accompanied by a decrease in assets. While assets increased for more than half of the foundations in the state (53%), the assets of the foundations that did decrease were significant enough to sway the trend for the state as a whole.
The study also found that assets of Texas-based foundations increased by 13.6%, greater than the 8% in giving. The analysis showed this difference to be largely attributable to timing, with substantial donations coming in to existing and newly formed Texas-based foundations in 2011 (note: foundations have three years to make grants based on new donations). Specifically, 389 foundations in the region received gifts totaling $5 billion in 2011, with more than $2.5 billion going to 211 foundations headquartered in Texas.