Wrap up Black Philanthropy Month 2022 with an in-person book-talk exploration of the historical roots of African American philanthropy, its power and impact today. This program will feature Tyrone McKinley Freeman, Ph.D., international award-winning author of Madam C. J. Walker’s Gospel of Giving: Black Women’s Philanthropy During Jim Crow.<br/><br/>This book-talk and book-signing event is organized and brought to the community by NGAAP (New Generation of African American Philanthropists) and the Harvey B. Gantt Center for African-American Arts+Culture, in celebration of Black Philanthropy Month in Charlotte (#BPM2022CLT).<br/><br/>This program is presented by PNC Bank.
As Americans make their year-end charitable contributions, many are likely reflecting on the suffering the country has witnessed in 2020.Â
Some donors will have the national reckoning over racial justice that followed George Floydâs killing in mind as they write checks or click donate buttons. These past several months have recharged efforts to address longstanding racial disparities in the U.S., and major corporations and private foundations have pledged or spent billions of dollars toward that cause.
But individuals can make a big difference too. MarketWatch talked to several experts about the best ways to make charitable donations that address issues such as the racial wealth gap; disparities in health, education and homeownership; and the uneven burden Black Americans have borne during the still-unfolding coronavirus pandemic.
Black Americans donate higher share of income than whites
Research revealed that despite having a lower net worth, Black communities are more charitable than whites.
Singletary was asked by a financial planner, “are you sure you want to give that much?” questioning the 10 percent of our gross income she and her husband gave to their church. The financial professional encouraged those funds to be placed in the stock market to gain more money. To the author, however, tithing is an investment with a great return, and data revealed she is not alone.
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“Nearly two-thirds of Black households donate to community-based organizations and causes, to the tune of $11 billion each year, according to a joint 2012 study from the W.K. Kellogg Foundation and Rockefeller Philanthropy Advisors,” the article reported. “Black households on average give away 25 percent more of their income per year than Whites.”