Black Philanthropic Opportunity

OUR COMMUNITY, OUR STRENGTH BLACK PHILANTHROPIC OPPORTUNITY

RANKING OF BLACK DONORS’ WEALTH MANAGEMENT TOPICS BY INCOME

RANKING OF WEALTH MANAGEMENT TOPICS BLACK DONORS’ REPORTED ANNUAL HOUSEHOLD INCOME

LOW-INCOME: LESS THAN $80,000 MIDDLE-INCOME: $80,000 –$199,999 HIGH-INCOME: $200,000 OR MORE

Develop strategic family philanthropic plans Types of charitable giving Role of charitable giving in wealth management More information on pressing social issues #2 #1 #3

#1 #2 #1

#3 #3 #2

#4 #4 #4

TYPES OF BLACK DONORS

Following earlier studies of Black donors in Cincinnati and Greater Richmond, NEBiP developed a typology to add to the understanding of Black donor behavior and motivation and to provide a benchmark to compare donor behavior. NEBIP’s typology describes three types of Black donors: Cornerstone, Kinship and Sanctified. The Donor typology presents three categories to identify donors: motivation for giving, focus on a single or multiple sector, and the value placed on donations of time.

QUESTION DONOR TYPES CORNERSTONE KINSHIP SANCTIFIED OTHER

Motivation. What motivates you to give money?

Single or multiple sectors. Would you prefer to develop expertise in a single sector (e.g., the arts or health) or would you prefer to give to multiple sectors?

Importance of time. Is it important that donating your time gets factored into how much money you can give? General betterment of society

Empowering the Black community (or a subset of the Black community) Living out my faith Creating a personal legacy; teaching my children that giving is important, etc.

One sector (two if part of a couple), multiple organizations in that sector

One community, multiple sectors to help that community

Give to a trusted religious institution for their use as they see fit Children’s school or sports team fundraising; alma mater only, etc.

Yes – I am getting to the point where my time is more precious than my money My time and money are equally valuable

Whatever the community needs, I’m in I do what is asked of me by the guidelines of my faith and/or religious institutions

My time is given instead of my money at this point in my life

WHICH DONOR TYPE(S) EMERGED FROM THE GIVING BLACK®: HAMPTON ROADS RESEARCH?

Hampton Roads donors appear more closely aligned to the Sanctified and Kinship donor types. Donor respondents regularly attended church – nearly half attended once a week, even during the pandemic. The Black church received top ranking as donation recipients and as a focus of personal giving. Other donors expressed interest in securing social, political and economic power for the Hampton Roads Black community. As such these donors are more closely aligned with the Kinship donor type.