Emergent Philanthropists: America's Evolving Ethnic Donor Groups
The affluent Hispanic-heritage community
The number of affluent Hispanic households has more than doubled in the past few decades, and Hispanics' wealth is growing faster than the general public. Today, more than 3.7 million Hispanic households have incomes exceeding $100,000. Family-owned and small businesses account for much of this wealth, as well as inheritance. Nearly seven of every 10 Hispanic households donate to charitable causes. Their gifts go to help the poor. The Catholic Church, education, job training, youth and disaster-related organizations receive a large portion of their giving. Person-to-person assistance is more predominate in this community than any other. Millions of dollars are sent to relatives abroad or given to other family members before charitable contributions are considered. Because gifts are given when needed, extremely informal and unpredictable giving patterns tend to be the norm.
The Hispanic population in the U.S. is young; almost half are under the age of 40. This group tends to be fiscally conservative and has a strong propensity toward savings. As these donors are aging, their giving priorities are diversifying, and community needs, capital projects and some cultural organizations are finding interest among Hispanic donors. These emerging philanthropists rally behind their leaders and tend to support their causes as well.
Consider communications that are bilingual when appropriate. Examples of donors who have made a difference through their modest gifts may prompt others to consider engagement. Because many Hispanics have adopted mainstream investment strategies for their own savings, use language that provides the same sense of resource accumulation at your organization. Allow donors flexibility in the timing and level of their gifts. The concept of regular “annual gifts” has not yet taken root among many donors of Hispanic heritage. Large gift solicitation efforts may need to take on a sense of group giving versus individual giving.