For Immediate Release
Contact: Rose-Marie Brandwein
917-923-8105
New York, New York – Science philanthropy is transforming the world of research and propelling tomorrow’s innovations. In its inaugural Science Philanthropy Indicators Report, the Science Philanthropy Alliance explores National Science Foundation data through a philanthropic lens to illuminate the vital role of science philanthropy in funding basic research.
The report illustrates that in the higher education and nonprofit sectors, philanthropy today fuels the U.S. basic research enterprise at a level approaching that of the federal government. Federal funding has declined as a relative source of support from more than 75% in the 1960s to approximately 50% in 2021. Conversely, philanthropic funding for basic research has doubled from less than 20% of the total in the 1960s to nearly 40% or $25B in 2021. This shift reflects increasing engagement and interest by foundations, philanthropists, and universities in advancing scientific discovery.
“Far from being a new contributor to the science R&D landscape, philanthropy has long been a central member,” says Dr. France A. Cordova, President of the Science Philanthropy Alliance. “It is essential for providing agile, high-risk, long-term support for basic research.”
“Exploring funding trends is important for understanding the increasing role of philanthropy for science and where there are opportunities for growth and partnership,” says Alliance Strategy Director Dr. Kate E. Lowry.
As national and global priorities demand increased investment in applied research and development, philanthropy can step in to fill the gap. These contributions to science and technology are important for securing our future. While much funding is directed to the life sciences, philanthropy can also be a driver in supporting less funded areas, such as the social sciences and ocean and climate sciences. Additionally, partnerships and innovative funding models are enabling new approaches for science philanthropies.
Read the full report – Science Philanthropy Indicators Report
About the Science Philanthropy Alliance:
The Science Philanthropy Alliance is committed to advancing scientific discovery through visionary philanthropy and serves as a resource for new and established philanthropists interested in supporting basic research to drive scientific innovation and progress. For more information about our membership and advisory services, contact info@sciphil.org.