US

Giving from the Indian diaspora is on the rise and on the cusp of a ‘significant intergenerational wealth transfer’, according to new findings from philanthropy consultancy group Bridgespan.

‘Indian Americans are orienting their philanthropy toward both where they live and where their families came from,’ the report said.

Their potential to make an impact ‘has never been greater’. The report, looking at over 60 donors and nonprofit leaders, found that Americans with Indian heritage were increasingly helping to transform India.

‘As India seeks to transform itself into a fully developed, self-reliant country by its 100th anniversary of independence in 2047, giving from the Indian American diaspora could make a powerful and distinctive difference in contributing to India’s nation-building goals by giving to institutions, causes, or communities that are under-supported by domestic philanthropy and CSR funding’ the report said.

Private philanthropy was helping NGOs and nonprofits to experiment before ‘larger scale’ government funding.

Giving from the Indian diaspora was shaped by three forces; values, community and intergenerational engagement.

‘Indian American philanthropy is profoundly shaped by the values and interests that inform donors’ worldviews, whether through faith traditions, the influence of parents and other family members, their experiences building companies in the United States, other professional experiences, or their belief that philanthropy can achieve lasting positive change,’ said Bridgespan.

The US-based Indian diaspora are frequently noted for their prosperity and wealth; median annual household income are approximately $151,200, nearly double the US median of $80,610 and own more than 50 percent of small- and mid-sized hotels and motels in the US.

Shafi Musaddique is the news editor at Alliance magazine