Two-thirds of all annual survey participants reported that they ended FY2021 having generated surplus revenue, which is often reinvested back into a given foundation's community leadership efforts. For the other third and others who end the year with operating deficits, they are typically covered by unrestricted funds, limiting their flexibility to invest in foundation-operated initiatives and leadership.

Calculated as revenues divided by expenses: Significant surplus >125%; Modest surplus = 105%-124%; Breakeven = 95%-104%; Modest subsidy = 75%-94%; Significant subsidy <75% (n=167)