U.S. research institutions received more than $2.3 billion for basic science research from foundations, philanthropists, corporations, and public charities in 2017, a report from the finds.
Based on responses from forty-six research institutions, the 2017 Private Funding of Basic Science Survey found that total private giving in support of basic science remained unchanged from 2016. However, giving to the twenty-five institutions that have participated in the survey over the last three years increased 40 percent, from $1.2 billion in 2015 to $1.68 billion in 2017.
According to the survey, 87 percent of the total, or $2 billion, was awarded in support of basic research in the life sciences, while 11 percent, or $252 million, went to the physical sciences and 2 percent, or $45 million, supported math research.
"While private funding cannot replace government funding for basic science, it clearly plays a critical role," said Marc Kastner, president of the Science Philanthropy Alliance. "We are grateful to the philanthropists, foundations, and corporations who have demonstrated their commitment to basic science. We hope that the new tax policies do not dampen their enthusiasm."