The face of the country is changing and with it, the face of philanthropy.
By
2050, the U.S. Census Bureau projects that people of color will
comprise more than half of the U.S. population. As the population has
diversified, so too have the profiles of those positioned to give back
to their communities.
Today,
increasing numbers of people of color are finding innovative ways to
leverage personal assets to benefit their communities.
A Tradition of Giving
African
Americans have always given informally but generously to mutual aid
societies, their churches and members of the community in need.
A
2003 Study in the Chronicle of Philanthropy reported that African
Americans donate 25 percent more of their discretionary income than
Americans of European descent.
Today,
nearly two-thirds of African-American households give to charity more
formally, to the tune of $11 billion dollars each year.
African-American wealth is growing
Between 1990 and 2004, the African-American population grew more than 20 percent, to 36 million people.
Businesses
owned by African Americans have grown nearly 50 percent in the last
decade and account for over $100 billion dollars in annual sales.
Researchers estimate that African-American buying power rose more than 125 percent between 1990 and 2004.
Finding innovative ways to give back
*
The Change Fund is a giving circle for young African-American
professionals in the Baltimore area, designed to expand their
involvement in philanthropy and to further awareness of social issues.
So far, members of the Fund have raised $12,000 to support
organizations working to improve access, education, and leadership
among African American youth in Maryland.
*
Tiffany Singleton of Houston, Texas rallied alumni and business
colleagues in the aftermath of Hurricane Katrina to raise $20,000 to
rebuild destroyed sections of her alma mater, historically black
Dillard University in New Orleans. Singleton relied on the skills she
gained from her participation in SIRV (Saving, Investing and Returning
Value), a program sponsored by her employer, JPMorgan Investment Bank,
that teaches young financial professionals of color how to combine
wealth management with philanthropy.
*
In her professional role as director of grassroots fundraising for
Grassroots Leadership, Pam Pompey raises money to support advocacy
efforts to abolish for-profit prisons. She also leverages her
fundraising experience to coordinate Ujamaa, a philanthropy and
fundraising training program for southern African-American leaders
under age 35. Since 2003, Pompey has trained 35 young leaders who are
now applying the skills they learned to raise money to meet community
needs.
Source:
The Forum of Regional Associations of Grantmakers, a national
philanthropic leader and a network of 32 regional associations of
grantmakers.