Giving by the nation's nearly 2,500 grantmaking corporate foundations remained basically unchanged in 2008 at an estimated $4.4 billion. Grant dollars rose 0.8 percent from 2007, although this translated into a 3 percent decline after adjusting for inflation. Arguably, corporate foundations were even more directly impacted by the rapid deterioration of the economic situation in 2008 than independent and community foundations. Approximately one-quarter of corporate foundation giving in recent years has been provided by foundations tied to companies working in the banking and finance sector. The impact of this economic calamity has also moved well beyond this sector, with a sustained drop in personal and corporate spending prolonging the recession and affecting corporate earnings across the board. Looking ahead, just over half (51 percent) of corporate foundations responding to the Foundation Center's annual forecasting survey expect to decrease their giving in 2009. Over three-quarters of these funders anticipate decreases in giving of greater than 10 percent.