I have been posting on this site about the trials and tribulations of young donors. I’m in the middle of chronicling the life of Michael, an heir to a trust, who must soon begin giving away $78 million (U.S.). More on his philanthropic journey in the next post.
Another group is stumbling into the American philanthropic scene. Young South Asians living in the U.S. (Pakistanis, Indians, and Bangladeshis are the majority). Some moved to America after college, and others (like me) were raised here. They are coming into significant personal wealth.
I recently brokered a discussion of six prospective donors. Their concern was: “What is the best way for South Asians to be philanthropic in America?” The half-dozen entrepreneurs I spoke with with have committed their personal resources — a collective sum of $2 million (modest relative to most charities), and they hope to raise more from others. But they need some help to meet their objectives. Allow me to explain. And as always, please chime in with comments.
They are all successful, highly educated, completely obsessed with money, and they want to do good. But they want to help South Asian-Americans, which is not so straightforward. Before you reply, “Give to the United Way,” I want to make clear that this group wants to help South Asians progress in the U.S. That doesn’t preclude mainstream charitable donation, but they want to move South Asians forward. Read the rest of this entry »
