Wealth Transfer Estimates for African American Households
center on wealth and philanthopy
This study presents new information on wealth and wealth transfer within the African-American community. The first section presents an overview of the findings. The second section presents selected statistical patterns and trends in income, wealth, and philanthropic giving among African-American households. This section includes estimates of the amount and distribution of wealth among African American households. It provides an essential context for understanding the estimates of wealth transfer presented in the third section. The third section deals with the capacity of African American households to make charitable gifts and to leave charitable bequests in the 55 year period from 2001 to 2055. Using an expanded and updated version of the CWP's Wealth Transfer Microsimulation Model (WTMM), the report presents the first estimates of wealth transfer among African American households.
In 2001, there were 13.2 million African-American households in the U.S. By examining the major findings concerning recent trends in the financial resources and philanthropy of African-American households, the distribution of wealth and rates of growth in wealth among African-American households, and the estimates of wealth transfer among African American households, the study attempts to paint an accurate financial picture of the African American household, both today and in the future. A preliminary version of analysis paper is available for download now.