How will America’s growing diversity contribute to the future of philanthropy? A new report commissioned by New Ventures in Philanthropy, the Forum of Regional Associations of Grantmakers and the Council on Foundations Community Foundation Leadership Team addresses the ways that America’s growing diversity will contribute to the future of philanthropy. A selection of the trends include:
1) An increase in racial and ethnic diversity across communities
- Mainstream philanthropy will need to adjust to needs of varied populations
- Creates potential for community-based giving pools, many who may have their own giving traditions rooted in their heritage
2) A growth in high-wealth donors of color
- Drives creation of identity-based funds
- The philanthropy sector as a whole will need to identify and reach new high-wealth communities of color, or risk losing influence
- These donors will be poised to create solutions in their own communities – formerly thought of as “needy”
3) Diaspora philanthropy will thrive
- Foreign-born Americans seek to support relations “back home”
- Aggregates to $50-$100 billion each year
- Community foundations and other strategic giving vehicles will seek to accommodate diaspora giving
4) Diversified faith-based giving, with strategic Muslim philanthropy becoming more prominent
- Across all religions, more active clusters of faith-based donors
- Niche institutions will support these donors
The rest of the trends are available in Donors of the Future: 12 Key Trends and What They Mean for the New Giving Landscape. CAAP is committed to serving the needs of our diverse constituency through a variety of giving vehicles. Visit our website to learn more.
Related articles
- Diversity and donors of the future (Minnesota Council on Foundations)
- Diaspora philanthropy (Philanthropy in AAction)
Photo courtesy Jose Luis Mieza Photography