Community Foundation Survey

What began as a simple flash poll in 2015 has evolved into a robust, data-driven annual study that has delivered critical insights to the community foundation sector for a decade. Since 2016, the survey has engaged over 250 community foundations across 46 states, helping inform strategic decisions that drive meaningful impact in local communities.

Thank you to all of the community foundations who participated in the FEG 2025 Community Foundation Survey! In 2025, 113 U.S. community foundations across 29 states came together to drive change by participating in the survey, providing a number of key findings on select investment and enterprise topics. The survey provides timely insights into the evolving landscape of community foundation investing, operations and risk management. Specific topics covered include asset allocation, spending policy, values aligned investing, and the emerging role of artificial intelligence in foundation strategy. 

Information for the survey was provided between January and March of this year. Key findings include: 

• Spending Rates: Average and median spending rates remained steady, although foundations maintaining a 5% spending rate continued to decline.  
• OCIO Adoption: The Outsourced Chief Investment Officer (OCIO) model continues to gain momentum, though the traditional/non-discretionary model remains the most widely used.
• Values Aligned Investing: Responsive Investing remains the dominant approach. The average portfolio allocation increased from 15% to 20%, with a notable rise in foundations willing to accept below-market returns to align with mission-driven goals. Some foundations are shifting toward private capital as part of broader impact investing strategies.
• Artificial Intelligence (AI): Despite nearly 80% of community foundations anticipating that vendors or investment partners will leverage AI in the future, only 20% have begun integrating AI into their own operations or investment strategies. 

Now in its 10th year, the FEG Community Foundation Survey continues to serve as a trusted resource for community foundations seeking to navigate a complex and rapidly changing investment environment.