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Looking at data from 2004 to 2010, The State of Multi-Year Funding finds that multi-year grantmaking in 2009 fell 21 percent to $5.5 billion during a time when total grantmaking declined only by 13 percent. In September 2012, NCRP recalled a previous version of the study after learning of a programming error from the data source. This revised edition more accurately reflects recent trends.