Posts Tagged ‘charitable giving’

As Asian-Americans’ Numbers Grow, So Does Their Philanthropy

Friday, January 18th, 2013

 

(CNBC) About 800 people gathered in November in a ballroom in Midtown Manhattan for one of the year's more elegant galas. They dined on beef tenderloin with truffle butter, bid on ski and golf vacations in a charity auction, and gave more than $1 million to a nonprofit group based in New York.

But this was not an old-money event. The donors were largely Korean immigrants and their children.

Members of a new class of affluent Asian-Americans, many of whom have benefited from booms in finance and technology, are making their mark on philanthropy in the United States. They are donating large sums to groups focused on their own diasporas or their homelands, like the organization that held the fund-raiser, the Korean American Community Foundation.

And they are giving to prestigious universities, museums, concert halls and hospitals — like Yale University and the Metropolitan Museum of Art. The institutions, in turn, are increasingly courting Asian-Americans, who are taking high-profile slots on their governing boards.

Full story…

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