In this episode of the First Day Podcast, host Bill Stanczykiewicz, Ed.D. is joined by Una Osili, Ph.D and Sitashma Thapa to dive into a groundbreaking research study focusing on charitable giving trends by race and ethnicity. They discuss the research findings, revealing that economic downturns have affected donors of all backgrounds, leading to declining rates of giving. Particularly, the Great Recession had a lasting impact on donors of color, taking them longer to recover. This highlights the importance of understanding how economic shocks affect philanthropy and the need for discussions around wealth-building, financial literacy, and economic resilience.

The study examines charitable giving among five racial and ethnic groups: Caucasian, Black, Hispanic, Asian, and Native Indian. It unveils a significant decline in household giving among all these demographics, both before and after the Great Recession. The podcast emphasizes that philanthropy is not a one-size-fits-all approach and highlights the often-overlooked informal forms of philanthropy, such as private transfers, giving circles, and Mutual Aid, which play a crucial role in communities of color's generosity.

Furthermore, the podcast underscores the importance of diversifying donor databases for nonprofit organizations. It urges fundraisers to reach out to a more diverse pool of donors and engage with them authentically, respecting their preferences and motivations for giving. The podcast concludes by highlighting a successful case study, the Smithsonian African-American Museum, which engaged donors from various backgrounds, showcasing the potential for organizations to build meaningful partnerships and exceed their fundraising goals. The research study and podcast offer valuable insights for nonprofits navigating the evolving landscape of philanthropy in a diverse and changing America.