Financial Overview
In 2012, the Foundation paid out $215.2 million in grants and program-related investments to organizations and individuals in the United States and around the world.
Actual cash paid out varies from year to year depending on payment schedules of larger grants. Since 1978, the Foundation has paid out $5.3 billion through nearly 21,400 grants and program-related investments to more than 7,800 organizations and individuals in the United States and around the world. MacArthur's charitable administrative expenses totaled $33 million in 2012, about 13.1 percent of total charitable expenses.
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2012 Program Budgets
Program budgets are approved by the Foundation Board of Directors. Working pursuant to these budgets, the Foundation approves grants and makes expenditures during the year. We share these budgets so that you can better understand the Foundation's priorities.
Budget by Program
International Programs
U.S. Programs*
*In addition to grants, U.S. Programs also authorized $7.8 million in program-related investments.
Media, Culture, and Special Initiatives
Cross-Foundation Programs
Investment Summary
As of December 31, 2012, MacArthur's assets totaled $5.8 billion. The Foundation's investment portfolio had a return of 9.89 percent in 2012 net of investment management costs.
The Foundation invests for the long term with the objective of earning a real rate of return, net of expenses, sufficient to fund its charitable giving and operations. The underlying principles of MacArthur's investment approach may be summarized as follows:
- The Foundation maintains a broadly diversified portfolio with allocation to a variety of asset classes, both public and private.
- The broad diversification, combined with rigorous analytical research, is intended to enable the Foundation to manage risk.
- The Foundation seeks to achieve strong net returns over time at a cost comparable to other institutions with similar asset allocations.
Total Assets and Rate of Return, 2003–2012
| 2003 | $4,530,410,640 | 25.98% |
| 2004 | $5,034,822,738 | 17.01% |
| 2005 | $5,492,269,240 | 15.47% |
| 2006 | $6,178,196,933 | 18.04% |
| 2007 | $7,052,165,312 | 19.37% |
| 2008 | $5,014,059,259 | -26.97% |
| 2009 | $5,237,796,061 | 12.26% |
| 2010 | $5,666,612,008 | 17.02% |
| 2011 | $5,703,076,554 | 4.34% |
| 2012 | $5,758,927,000 | 9.89% |
Average rate of return, 2003–2012, 10.2%