Posts Tagged ‘philanthropy’

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.

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Charitable Donations: Blacks Outpace Whites

Monday, February 27th, 2012

(The Root) Reuters is reporting today on a study showing that African-American donors give higher percentages of their incomes to charity than their white counterparts, with nearly two-thirds of black households making charitable donations, worth a total of about $11 billion a year. And it's not just a little more: That number means black donors turn over a full 25 percent more of their incomes than white donors annually, according to the W.K. Kellogg Foundation and Rockefeller Philanthropy Advisors research. The results have many wondering why more African Americans don't self-identify as philanthropists.

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Arts funding doesn’t reflect diversity

Monday, October 10th, 2011

(Richmond Times-Dispatch) Billions of dollars in arts funding is serving a mostly wealthy, white audience that is shrinking while only a small chunk of money goes to emerging art groups that serve poorer communities that are more ethnically diverse, according to a report being released today.

The report from the National Committee for Responsive Philanthropy, a watchdog group, shows foundation giving has fallen out of balance with the nation's increasingly diverse demographics. The report was provided to The Associated Press before its release.

A large portion of funding goes to more traditional sources such as museums, operas and symphonies. But recent surveys show attendance at those institutions is declining, while more people are interested in community-based art initiatives.

Full story…

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