Wealthy African-American Donors Plan to Increase Their Giving, Says New Study

Title: 2016 U.S. Trust Study of High Net Worth Philanthropy

Organizations: Indiana University Lilly Family School of Philanthropy and U.S. Trust

Summary: Roughly 42 percent of wealthy African-American donors plan to increase their charitable giving in the next three years, compared with 24 percent of wealthy white donors, according to a recent study of philanthropists with a net worth of $1 million or more or an annual household income of at least $200,000. The report also revealed that African-Americans, Asian-Americans, and people who identify as Hispanic or Latino, have differing viewpoints and behaviors when it comes to their philanthropic motivations and activities.

Among the findings:

• Black philanthropists said their peers and religious organizations played a significant role in their charitable-giving decisions, while white donors said they were more likely to turn to wealth-management experts for advice on charitable giving.
• Nearly three quarters of wealthy African-American donors said they gave to religious organizations last year compared with almost 54 percent of their white counterparts. Meanwhile, roughly half of black respondents said they gave to higher education compared with 34 percent of white donors.
• Half of Hispanic and Latino respondents said they involve children or other younger family members in their giving, compared with nearly 40 percent of blacks and 26 percent of whites in the study.
• About 37 percent of Hispanic and Latino philanthropists reported family traditions of giving. Roughly 32 percent of Asians and Pacific Islanders, 31 percent of African-Americans, and 18 percent of white respondents said the same.