New Research Comparing High Net Women and Men's Giving

The Center on Philanthropy released in December 2011 new research they conducted on high net worth women's philanthropy for Bank of America and Merrill Lynch.  For years Martha Taylor and I have been conducting qualitative research with thousands of women donors and listening to their stories, and are thrilled that this new quantitative research from the Center backs up and furthers our over twenty years of work.

For the study, high net worth was identified as household income greater than $200,000 a year and/or net worth (excluding primary residence) of at least $1,000,000

The study also included women from the Red Cross Tiffany Circle, a network of women leaders and philanthropists that give $10,000 or more annually to their local Red Cross.

There were a great many interesting results and those we found most meaningful to nonprofits and others seeking to appeal to women as donors were:

• Women want to know their gift will make a difference
• Women want to see the impact their gift makes
• Women want to volunteer and to become involved
• Giving circles provide a powerful new way for women to give
• Women have more confidence than men in nonprofits ability to solve domestic or global problems
• Couple giving is largely influenced by women
• Education receives the highest amount of women's giving
• Women are more strategic in their giving than men
• Women are more likely than men to stop giving to an organization
• Only 20% of women sought advice from financial advisors

Women's philanthropy is indeed a global movement and we thank those involved in bringing this new and important research to the attention of everyone who wants to engage more women donors and see the results of women's involvement in helping solve today's crucial issues.

How Women's Philanthropy Has Led the Way

Recently Martha Taylor and I were asked how women's philanthropy has changed the field of philanthropy in the last decade.  Such an interesting question and such incredible results.  There were so many areas to think about but here are the seven most important changes we believe were initiated by women's philanthropy.

1. Giving circles are an amazing result of women's philanthropy.  Spawned from women's bible circles, quilting circles, book circles, and investment clubs, giving circles have been responsible for growing women as philanthropists and for democratizing philanthropy.

2. Understanding one's passion and values have been a result of women's philanthropy and are now a definitive part of developing philanthropists...women and men, which has helped create donor education based around values rather than just numbers. 

3. We are proud to say that many women have now moved beyond passion to compassion, and giving to those in need, whether it be women and girls, serious health issues, or other human needs.

4.  Women are assuming the responsibility for addressing societal issues and by acknowledging their responsibility to help fund those programs that will make the world a better place.

5. Global giving is an area that women have embraced because they understand that they are global citizens.  Women know that what happens anywhere in the world impacts everyone because as Jane Addams said, "I am a resident of Chicago but a citizen of the world." Women's philanthropy has also grown internationally as women in countries from Canada to Liberia understand women's potential to give and responsibility to do so.

6. Women have redefined philanthropic leadership by bringing their values, vision and voice to solve the issues of today.  In so doing, women have helped organizations and institutions move beyond building more buildings to creating programs and projects addressing today's problems.

7. Transformational giving or impactful giving has been a result of women saying they didn't want to just put a bandaid on a problem.  Women wanted to find out what was causing the problem and solve it through their philanthropy.

We are so proud of what women have accomplished over this last decade.  Women have been creative and entrepreneurial problem solvers and, through their increased financial potential and education, they have led the way in philanthropy and continue to do so.  Congratulations to all the wonderful women in philanthropy throughout the world.

Wealthy Women Married To Wealthy Men: Their Philanthropy Can Lead the Way

Women married to wealthy men have often been philanthropic but just as often, their giving has been related to social events and benefits. What Martha, Buffy, and I have always supported, are women considering a couple's money as being their money and equally shared in earning and giving away...thus giving to change the world, even if it's not always comfortable or the norm by doing so. A recent article in the Financial Times shows Melinda Gates as a wonderful role model for us all. She is a strategic philanthropist while at the same time, as a caring woman, always aware of children, other women, and causes that speak to a better, more equitable, sustainable and more generous future.      

Doris Buffett and Brenda Biederman Helping People in Need

When Brenda Biederman started mAIDens of Michigan (mAIDens) in Traverse City, Michigan three years ago, her desire was to help women in need get a helping hand to make a better life for themselves and their families.  (mAIDens was the subject of the September 2010 blog).

Thus, it was so satisfying to read the NY Times article, "Donors Weigh the Ideals of Meaningful Giving," in the November 1, 2011 edition because Doris Buffett with her Sunshine Lady Foundation is also focused on helping people in need and empowering them through reading and hearing their stories.  Just like Biederman and mAIDens with of course a great deal more money.

Buffett has started programs in maximum-security prisons to help inmates get degrees from accredited colleges and provided education to victims of domestic violence.  As with mAIDens, the Sunshine Lady Foundation gets many requests for eyeglasses, tires, teeth, roofs, and refrigerators.  Items that we all may take for granted but when we think about it, mean so much to the quality of our lives.

Meeting basic needs to help people change their lives is such a sure sign of women's compassion and generosity.  These women are role models for us all.  They represent large and small communities (Omaha, Nebraska and Traverse City, Michigan) and show that caring women all over the country can use their money to create special ways to express their philanthropy.

If you know of a woman in your community who is doing something very special with her philanthropy to help those in need, please let me know and she will be featured in this blog as well.

"Daughters of the Declaration: How Women Social Entrepreneurs Built the American Dream"

Professor, author and former college president, Claire Guadiani has been a very strong supporter of women and philanthropy and we greatly appreciate all she has done, particularly in pointing out how women's past contributions have changed society and created national prosperity.

Her new book with her husband, David Burnett, Daughters of the Declaration, makes it clear that women have always been on the cutting edge of dealing with the social issues of today; that women have used their entrepreneurship to create America's unique not-for-profit, or social profit sector.  And that women's idealism and optimism have played a major role in the increasing prosperity of our nation.

In the book, she points out, "…the notion that the great industrialists created America’s social profit sector is simply wrong.  It suggests that citizen responsibility for building a just society was led by very wealthy, politically connected men…: In fact, the social profit sector was developed not by the great men of industry, but by women….long before the “robber barons” created foundations and universities bearing their names.  Women did so before elected officials defined a meaningful role for government in such matters as public health, education, workplace safety, or the ownership of slaves.  Women began this work at a time when they were not even entitled to own property or inherit wealth."


Now women have not only the natural instincts to deal with the social issues of today, we have the money and the clout as well.  We are positioned, as never before in history, to make a huge difference with not only our time and our feelings of responsibility, but with our money as well.  As Claire has said in the past, "We are the generation of women the world has been waiting for.  We should do more than soak up the good life to make up for what others did for us in the past."


This new book shows us what women have done in the past and against all odds.  The odds are now in our favor and it is up to us to show what we can do to make the world a better place, one by one and together.

Preparing to Launch a Women’s Philanthropy Program

With so much interest shown in developing women's philanthropy initiatives, it was time to include the following material written by my co-author and blog contributor, Martha Taylor, vice president of the University of Wisconsin Foundation.  Martha says:

"Before starting or expanding a women’s philanthropy program, make sure you have the following components to ensure your success.

1.    Staff and management commitment. One or ideally two (or more) staff members envision the role of a women’s program at the institution and decide to take it on as a project. Some organizations have formalized an internal “women’s philanthropy task force” and involved several staff persons. Management needs to endorse exploring the effort and back it up later with staff and budget.

2.    Core group of women volunteer leadership and major donors. Before beginning a program, seek the input of a core group of women volunteer leaders and donors. Brainstorm with them about how to engage women with your institution.

3.    Clear vision, mission, goals and values. The program will succeed long term if it has a well defined mission, vision, goals and values—all standard good practices in a development office. Volunteer leaders and staff work together to formulate goals and objectives.  You should know how many women are giving to your organization, how much and at what giving level.

4.    Business plan and evaluation method. Develop a business plan and analysis of how the program will fit into your development operation. This internal analysis includes benchmarking to assess your progress.

5.    Organizational culture that supports women’s giving. Complete an internal audit concerning your operations, the role of women in your organization, the potential of women as an audience. Standard operating procedures in the organization should respect women and women’s perspectives."

    

    Martha A. Taylor, Vice President, University of Wisconsin Foundation

    From Woman and Philanthropy: Bolding Shaping a New World

Generations, Gender and Generosity

I was pleased to have been part of the celebration of the Women's Philanthropy Council of the University of Wisconsin Foundation's tenth biennial forum on philanthropy"Generations, Gender and Generosity." My dear friend and colleague, Martha Taylor helped establish the Council twenty three years ago and it was the first women's philanthropy initiative at a public university.

The day opened with my moderating a four member panel of women of different generations discussing their philanthropy.  As you might imagine, the women did have some differences in their approach to philanthropy: Gen Y said she had no trouble approaching her friends for money while the others found asking friends to be somewhat difficult.  But most of the approaches to giving were very similar, despite the difference in ages from 21 years to 93 years.

When asked what they felt their responsibilities were as philanthropic leaders, the women said to educate others so they know how to give back, and to lead by example and not give anonymously.

I asked about the values they wanted to pass on to the next generation and they said making a difference, the responsibility to put philanthropy to its best use, compassion and giving to things that touch the heart.

As for the panel's expectations from giving a gift, the answers were knowing how the gift was used, that their gift was earmarked and not for the general fund, and looking at their contribution in the same way as when making a new investment; they want an accounting.

When the discussion turned to how they like to be asked for a gift, they said through the use of stories and knowing there will be collaboration with others.

And finally, we talked about where philanthropy is headed.  The responses were that more people will be giving locally as compared to giving to large institutions, and that philanthropy will become even more important with government cutbacks.

One panel member closed the session with the inspiring comment about the cup half full and half empty story and said what we really must do is give our cup to others to drink.  Her statement was a fine conclusion to the day's atmosphere of giving back, giving to basic needs, compassion, and generosity that was in abundance at the day long forum.