Report: Indian American Philanthropy on the Rise: Could Dwarf U.S. Aid to India
Tuesday, November 10, 2015
New research released Nov. 9 by The Bridgespan Group reports that Indian American philanthropy has expanded from giving to family and community to more broad-based social causes and organizations focused on addressing India’s most challenging problems.
Approximately 3.5 million Indian Americans and their children are living in the United States, noted the report, a population that is rapidly evolving and fast-growing. According to Bridgespan’s research, this population has the capacity to give to India at levels that could dwarf official U.S. development aid there, globenewswire.com reported.
“The Indian diaspora in the United States is positioned to help now more than ever before,” said Rohit Menezes, a Bridgespan partner who leads the organization’s India office and co-author of the research article. “Indian immigrants have fared well and amassed significant wealth. It is our aim to encourage donors to give more to India and to do so more effectively.”
The article reports that Indian-headed households have a median annual income of $89,000 (compared to a U.S. median of $50,000), and 27 percent of Indian households earn more than $140,000, putting them in the top 10 percent of earners nationally.