Tapping Into the Power of Multicultural Philanthropy

Tapping Into the Power of Multicultural Philanthropy

Nov. 29, 2005

By Kelley Chunn

The estimated economic clout of Asians, Latinos, African-Americans and Native Americans exceeds $1.3 trillion, and they aren't afraid to flex their economic muscle -- especially in terms of philanthropy.

Shortly after Hurricane Katrina, for example, The Twenty-First Century Foundation, an African-American philanthropic organization, reportedly raised $400,000 for black survivors. The Associated Press reported that when two storms slammed Central America this fall, it brought into sharp focus a trend among U.S.-based development organizations and Hispanic community groups: When disaster strikes, many groups send money directly to community organizations in the affected countries because donors do not want corrupt governments to get access to the funds.