- “In a study sponsored by The Philanthropic Collaborative, economists Robert Shapiro and Aparna Mathur concluded: “Each dollar that private and community foundations provided in grants and support in 2007 produced an estimated average return of $8.58 in direct, economic welfare benefits. As a result, the $42.9 billion in grants and other support provided by private and community foundations in 2007 produced some $367.9 billion in direct, social and economic benefits.” Robert J. Shapiro and Aparna Mathur, The Social and Economic Value of Private and Community Foundations (Washington, DC: Sonecon, 2008), p. 2. Available online: http://www.philanthropycollaborative.org/FoundationStudy.pdf.