August is Black Philanthropy Month, a time to celebrate Black giving and advance funding to strengthen Black communities.
The share of Americans who gave money to racial or social justice causes increased in 2020, and donors of color were the most likely to do so — though “generosity is not unique to any one type of American,” a leading researcher emphasized.
Looking at giving across racial and ethnic groups in 2020, the Lilly research found that 31% of Asian households reported giving to racial and social justice causes, followed by 19% of Black households, 14% of Hispanic households and 13% of white non-Hispanic households. She added, “This is probably a finding that needs to be lifted up even more, because in this era where we speak of persistent disparities, we actually note that generosity is something that brings Americans together regardless of their race or ethnicity.”
‘No matter what the world or this country is doing to us, we give’ Black and Hispanic households had the highest rates of giving to people they know, and were also the most likely to give to strangers, helping them with both money and non-monetary assistance, the Lilly research found. Black Philanthropy Month, which marks its 10th anniversary this August, aims to celebrate Black giving and advance funding to strengthen Black communities. This year organizers are asking philanthropies and venture capital funders to adopt funding principles aimed at giving Black people “equitable access to private capital.”
A separate 2018 study by the liberal-leaning Urban Institute think tank using data from the Federal Reserve’s Survey of Consumer Finances found that of “all racial or ethnic groups in the dataset, Black families have contributed the largest proportion of their wealth — which can include savings, used cars, land, and investment accounts — to charity since 2010.”
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