UK Trusts show commitment - or do they?

Two apparently contradictory stories in the current Charity Times Enewsalert:

"Falls in grant-making and asset value for top charities
New analysis of the impact of the recession on charity fundraising shows 41 percent of the top 300 charitable trusts saw a fall in the value of their grant-making in 2008..."

Says one intro but another report in the same Enewsalert says...

"Charitable trusts show commitment to supporting charities, reveals report
Charitable trusts and foundations realise now is not the time to turn off the tap of support for Britain’s charities, according to new research published today by the Charity Commission"

Reading on I hoped that maybe they weren't contradictory, with maybe just eye-catching headlines, and talking about different things - but no, they are totally at odds with each other.

The first, by ESRC Centre for Charitable Giving and Philanthropy at Cass Business School, London looked at the biggest charities and trusts. Charity Times tells us "Her results indicate grant-making by the major charitable trusts has been maintained as a result of gifts and endowments received over the last decade, but this is a hidden ‘time bomb’."

And then, the research by the Charity Commission says "There was a clear indication from these trusts that levels of grant-making are, despite the recession, being sustained.The report also found that trusts and foundations had adopted a sustainable approach which would allow them to offer this vital support not just now, but into the future."

Hmmn. Well, if you have a report to the board coming up, you can use either story to back up whatever case you are plumming for - just hope your board members don't subscribe to Charity Times!'

The good news story is here, and the bad one here. Take your pick.