But when their assets shrink, their donations tend to shrink as well.
Take this out along with commercial real estate and GE Capital's assets shrink to $416 billion.
The Andrew H. Mellon Foundation saw its assets shrink 15.1percentt in 2001.
Like many institutions, the Hispanic Society has seen its endowment and trust assets shrink, to $46 million from $65 million in 2007.
In three days in March Bear Stearns saw its pool of cash and liquid assets shrink by nearly 90%.
To repair their fortunes, European insurers have been forced to raise prices, sell assets, shrink operations and even get out of insurance altogether.
But because the tax laws allow for averaging over several years, foundations need not slash programs the year after their assets shrink.
Other philanthropies, notably those started by David and Lucile Packard and by Ted Turner, have seen their assets shrink considerably with the stock market collapse.
The overall project is anticipated to cost $100 million, though, and like many institutions the Hispanic Society has seen its endowment and trust assets shrink, to $46 million from $65 million in 2007.
"We're going to have to restructure our balance sheet," he said gamely, meaning that the company will now need to sell assets, shrink its loan portfolio and persuade its debtholders to take significant haircuts, swapping their debt for an equity position in the company.
The U.S. pension and mutual fund giant saw its assets shrink by around 8% last year, though the recent rally has restored much of that loss.
