By Kimberly Jetton.
Pleiades Nonprofit Advisors Presents Spanish Estate Planning Seminars and Stewardship: A Unique Opportunity to Engage with the Latino Community
A VERY Large Unreached Demographic
We at Pleiades Nonprofit Advisors have made it our mission to serve our clients and their donors effectively, and we understand that they both deserve more than a one-size-fits-all stewardship plan. We also realize that there are potential donors who have been historically ignored, even though they make up a significant part of our demographic. Worse still, the lack of outreach is primarily due to the misconception that this demographic is not charitable.
The Latino demographic in the United States is experiencing rapid growth, presenting a significant opportunity for the nonprofit sector. According to the U.S. Census Bureau, the Hispanic population reached nearly 63.7 million in 2022, about 19% of the nation's total population, up from 12% in 2000. This demographic surge is not just a statistic; it represents a dynamic shift in the cultural and economic landscape of the country, which nonprofits should strategically engage with for fundraising purposes.
Latinos are a diverse and vibrant community with deep-rooted traditions of philanthropy and mutual aid. Historically, Latino giving has often been directed toward family, community, and faith-based initiatives. However, as their economic influence expands, there's a growing potential for more structured and larger-scale charitable contributions, a significant financial opportunity for nonprofits. According to a report by Hispanics in Philanthropy (HIP), Latino households contribute over $17 billion annually to various causes. This substantial giving underscores the importance of stewarding Latino donors in a manner that respects and reflects their cultural values and priorities. In fact, our experience with Latino donors is that they give more dollars through bequests than their English-speaking counterparts.
Boldly Engaging Latino Communities
To effectively engage with this demographic, Pleaides is now helping our clients to adopt culturally competent strategies for outreach to the Latino community. This outreach involves offering planned giving materials in Spanish and understanding Latino donors' unique motivations and preferences. Building trust through community presence and personalized communication is crucial. Offering Estate Planning Seminars with Spanish-speaking attorneys and financial advisors allows a deeper engagement with the Latino community.
We and our clients recognize the growing Latino population in the U.S. presents a golden opportunity for nonprofits. By recognizing their philanthropic potential and adopting culturally attuned planned giving strategies, we can foster meaningful connections, ensuring sustainable support for their causes while celebrating and empowering Latino communities. Engaging this dynamic demographic is not just a fundraising strategy; it's a commitment to inclusivity and community empowerment.
*Spanish-speaking estate planning seminars are available to any of our four service levels. Please contact us to learn more.
