Facts About Diverse Households

December 6, 2016       The NonProfit Times      

The push for diversity usually emphasizes the need for people to grow intellectually by being exposed to a wide variety of currents and influences, this improving the world in many intangible ways.

Speaking at the American Institute of CPAs (AICPA) Not-For-Profit Industry Conference, Susan Raymond of Changing Our World Inc., made a case for a very tangible connection with diversity: wealth and diversity.

Raymond offered the following about wealth in diverse households:

  • Married households of immigrants from Europe/Canada and Asia approach or exceed the median and mean levels of wealth of the average U.S. household.
  • In technology-intense economies such as central New Jersey and Silicon Valley, median incomes of immigrants from Asia are higher than those of U.S.-born workers.
  • The rate of increase in the number of foreign-born workers earning $100,000 or more has exceeded U.S. native workers in all regions of origin.
  • The following were percentages of immigrant-founded companies in the U.S. (approximate): All industries: 25 percent; Innovation manufacture: 27 percent; Software: 29 percent; Computers: 30 percent; Semiconductors: 31 percent.
  • Of those founders, 52 percent originally came to the United States to study.
  • Of the percentage of households in the top income quintile, those of people born in Asia, the Middle East and Europe were higher than those of native-born Americans by almost five percent.
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