July 2008

GNOF Receives the Largest Gift in its 25-year History

John Albert Marque has left a donation of more than $20 million to the Greater New Orleans Foundation. It is the largest donation the Foundation has received in its 25-year history.

Marque, who died on March 28 at age 79, established the Theresa Bittenbring Marque and John Henry Marque Fund before his death in honor of his parents. Born in New Orleans on December 1, 1928, John Albert Marque was their only child.

A lifelong New Orleanian, Marque graduated from Fortier High School, Tulane University and Tulane Law School. He was President of Pelican Homestead & Association.

To read more about the generosity of this incredibly civic-minded and caring individual, click here.

Grants in 2008 Address Issues in Housing, Education, Arts & Culture

The Foundation’s Board of Trustees announced $6.6 million in grants to a range of nonprofits serving the greater New Orleans region for the second quarter. The broad distribution represents generous donors making grants for the benefit of our community. For year to date, the Foundation has distributed 690 grants totaling $14 million.

Philanthropy Growth in Donor Advised Funds

Relatively obscure until the 1990s, donor-advised funds have become one of the fastest-growing methods of giving. Donor-advised funds allow people to donate cash, stock and other assets to particular accounts, claim a deduction on their federal income taxes, and then recommend how, when and to which charities the money should be distributed. The Chronicle of Philanthropy recently reported that assets of 103 of the nation’s largest donor-advised funds grew by 25 percent in 2007 to a total of $23.3 billion. The amount of money distributed to charities from donor-advised funds also jumped in 2007, by 24 percent to $4.2 billion.

The U.S. economy may be in a recession, but charities probably don’t need to worry about a drop in donations from donor-advised funds anytime soon. Giving to charities from donor-advised funds grew by 5 percent during the 2002 recession, according to the Chronicle.