Coalition for New Philanthropy Names CAO K. O Chairman of Its Executive Committee; $150,000 Carnegie Grant Received.

Business Editors

NEW YORK--(BUSINESS WIRE)--March 12, 2003

The Coalition for New Philanthropy in New York, a partnership that encourages African American, Latino and Asian American donors in the New York metropolitan region, has named CAO K. O, as chairman of its Executive Committee. Mr. O is executive director of the Asian American Federation of New York (AAFNY).

The Coalition also announced that it recently received a two-year, $150,000 grant from the Carnegie Corporation of New York to support research and program evaluation. The research project focuses on the charitable interests and practices of African American, Latino and Asian American donors throughout the tri-state region, while the evaluation project tracks the effectiveness of the Coalition's activities to engage them.

"The Coalition, which has received more than $1 million in grants to date, believes that philanthropy is a vital and powerful tool for community progress, civic empowerment and social good," Mr. O said. "As more African Americans, Latinos and Asian Americans achieve financial success and accumulate more assets, the options are greater than ever for them to invest in metro New York City communities."

According to the 2000 U. S. Census, people of color now encompass more than 50 percent of New York City's population.

"While these communities already have strong traditions of charitable giving and usually give a higher percentage of their incomes than other individual givers, we have found that their giving is often personal and informal," Mr. O pointed out.

Mr. O replaces outgoing Coalition Executive Committee Chairman Enrique Ball, a native of Venezuela and the development director of the Hispanic Federation, an umbrella organization for 75 Latino social service agencies in the tri-state area. Mr. Ball will continue to serve on the Coalition's Executive Committee.

Mr. O, a native of Vietnam who has held key social service positions in the public and private sector, has been the executive director of the Asian American Federation of New York since its launch nearly 13 years ago. Under Mr. O's direction, AAFNY has grown in size, reach and influence. His accomplishments as AAFNY's leader include building substantial gains in financial and management resources, launching new programs and services as well as serving as a public policy advocate for Asian American New Yorkers.

The New York Coalition for New Philanthropy, operating from offices at 505 Eighth Ave. in New York, is composed of five collaborating organizations - The Asian American Federation of New York, the Center for the Study of Philanthropy of the Graduate School and University Center, City University of New York; the Hispanic Federation, the New York Regional Association of Grantmakers, and the Twenty-First Century Foundation. These five partners represent the main philanthropy association of the region, a leading philanthropy research center and three major ethnic funds.