(Image source from: KentOnline)

Indian-Americans, with advance per capita financial gain, is found that they donate approximately USD 1 billion each year, far less than their potential of USD 3 billion philanthropy in the United States, according to the results of a first-of-its-kind survey.

Indian-Americans in the study-which accessed the giving habits, had found that the community donates in the range of 1.5 percent of their income per year, in comparison to the average American donation rate of four percent per year.

Indian-Americans have one of the advanced average household incomes of any ethnic community in the United States, and it is acknowledged as being well educated and socially aware.

The Indiaspora-Dalberg Community Engagement Survey, which was released during the Indiaspora Philanthropy Summit at Georgetown University on Tuesday, found that Indian-Americans volunteer at nearly double the national average but give considerably less financially, finally leaving a significant social impact on the table.

"Today, we are discussing what lies next for Indiaspora in our role as a philanthropic catalyst, which is one of the core pillars of our mission. We are in the early stages of strategically planning what we should do to move the needle which is to say, increase the amount of Indian-American philanthropic giving in America and to India, and make it more effective," said M R Rangaswami, Indiaspora founder.

Joe Dougherty, Dalberg Advisors regional director for the Americas said that at over USD 3 billion dollars annually, the giving potential of Indian-Americans is tremendous.

"Imagine the kind of impact the diaspora could create if they met their giving potential. We hope that the results of this study help galvanize philanthropic efforts among this important and influential community," Dougherty said.

Indian-Americans who are passionate over cultural impact has a diversity of curiosity, according to a survey, are cautious screeners and prolific volunteers.

"However, the community must not get complacent the Indian Diaspora has a long way to go before we can call ourselves good givers," the survey notes.

"We find there exists a large 'giving gap' in the realm of at least USD 2-3 billion. Further, we find a 'passion-donation gap', which means that the community does not necessarily give to those causes which it collectively claims to be most passionate about," it said.

The study as well found that women and men do not always rank the identical causes in the same order of importance.

Eventually, the community tends to view its business concern and investment activities as being almost wholly independent of their philanthropic engagements, it said.

The study besides finding believable grounds buttressing the pervasive impression that Indian diaspora donors oftentimes lack trust in the philanthropic organizations they might desire to give to.

"In other words, donors harbor a 'trust deficit'," it said.

By Sowmya Sangam