Funders for LGBTQ Issues, a nonprofit network of more than 100 foundations, companies and funders, has released its latest report on the state of LGBTQ+ grantmaking by U.S. foundations. The 2023 Resource Tracking Report examines how foundations funded LGBTQ+ causes last year, highlighting trends, gaps and opportunities.Now in its 21st year, the report shows where funding stands and a call to action for foundations to better align their giving with the needs of LGBTQ+ communities nationwide.Key findingsChart: Funders for LGBTQ IssuesPhilanthropic support for LGBTQ+ communities took a major hit in 2023, dropping nearly 20% from the year before. When adjusted for inflation, the cut is closer to 22%. To put it in perspective: for every $100 foundations awarded last year, only 20 cents went toward LGBTQ+ causes, a decline from 25 cents in 2022.A major reason for this decline? The top 20 funders for LGBTQ+ issues decreased their support by 24% in 2023 compared to 2022.Support for Black LGBTQ+ communities decreased by $14.5 million from 2022 to 2023 or 41%, the largest decrease seen in the report.Support for issues affecting transgender, gender nonconforming, and nonbinary communities took another significant hit, dropping 24% or $11 million in funding.Top heaviness of funders also lent to the drop in support. In 2023, the top LGBTQ+ funder reduced their support by 41%, a decrease of $15.8 million. The top 20 funders support decreased by 24%, or a total of $45.8 million.Funding distribution included: advocacy (31%); direct service and health care (21%); capacity building (20%); culture and media (12%); philanthropy and fundraising (5%); research (3%); and 8% unspecified.Notably, 2023 was also the year with the most anti-LGBTQ+ legislation proposed across the U.S., with more than 500 bills introduced.To read the entire report, visit https://lgbtfunders.org.The post Only 20 cents of every $100: LGBTQ+ funding falls, new report finds appeared first on News Is Out.