Understanding Women's Philanthropy: Importance, Impact, and Trends

Generosity and Gender AFP- Eastern Iowa April 11, 2023 Lois A. Buntz www.LoisBuntzConsultingLLC.com

Key items for discussion Why is WP important and why should fundraisers care? What is women s philanthropy and how did it develop? How Women Give/Motivations The 6 A s Diversity, Equity and Inclusion Organizational considerations New Trends

Awareness Assessment The 6 A s Fundraisers Donors Organizations Alignment Action Acknowledgment Achievement

Philanthropy time, talent, treasure, ties, testimony Gender: socially constructed roles Sex: the chromosomes you have at birth What is Women s Philanthropy? All women who give to charitable causes Initiatives versus programs

< 2% of all foundation funding is directed to program for women and girls (WPI 2023) Why Is Women s Philanthropy Important? Only 3.1% of all donor advised funds grant dollars from 2012-15 was directed to women and girls Only 5% of foundation funding is directed to women and girls of color More than 45,000 organizations across every nonprofit subsector are dedicated to women and girls 3.3 % Highest % in human services

The Womens Movement, Civil Rights, ERA 1960- 1980 Suffragist Movement 1850- 1920 History- The Three Waves Waves Women Give Big and Bold- Women Moving Millions 2007 Higher education, women s foundations

What Is Womens Wealth Capacity? Higher education, health, and environment all have HNW women donors By 2023 women are expected to control $81-$93 trillion, 32% of all global wealth US Women have the ability to give $230 billion annually The face of philanthropy is changing- MacKenzie Scott - $12 billion Trends: Dual wealth transfer- Rockefeller Foundation, life span By 2030 US women will control 30 trillion in financial assets

Single women are more likely to give to charity and give higher amounts than similarly situated men. Assessment- How Women Give Women distribute to multiple organizations, men tend to concentrate 93% of HNW women give to charity compared to 87% of HNW men. Baby Boomer women give 156% more They give more to disaster and online.

Themes: The 10 Cs Create/ change: Impact and Gender Lens Investing Connections: Go Red, Pink Ribbon- Breast Cancer Counsel/mentors: Generosity Gene Collaborate: Giving Circles Confidence: Grow and learn about their assets Celebrate/Growth in philanthropy and leadership Control : Women s foundations, funds Commit/Courage: Political action

Source of Wealth- Does It Matter? Intergenerational wealth accounts for 50% -80% of the net worth of American families Disney, Buffett, Kohler Inherited wealth-56% of Baby Boomer women inherited their wealth Married Wealth- more than double that of two individuals- Single women: widowed, divorced, never married Couple s decision making 6 out of 10 couples make decisions jointly, Fidelity survey 8 out of 10. Earned Wealth: 24 billionaires

What will my money do? The end game- Impact 90% care about a positive impact on society 48% more likely to invest in alleviating poverty Alignment- What motivates women? 79%/62% of women invest in companies that invest in social good 25% more likely to invest in environment 88% more like to donate to education Being in a relationship with you the FR *Global Survey- The Center for Talent Innovation

Alignment Finding your passion Transaction to transitional to transformational Influencers, impact, interests Values clarification Look where you spend your money- it reflects your values Experiences, Fears, Legacy Wealth Knowledge

Names on building Competition with other women What Doesn t Motivate Women? They don t want to be sold- they want to be listened to? Being excluded from the conversation Having their partner thanked for a gift, but not them Ignoring them after a divorce, separation, or death

Action- Making It Happen- The Ask Create a memorable experience To match her gift with her life purpose To obtain a contribution or connection Three Goals: The meeting: setting, story, words The Debrief- What worked or didn t Thanks and stewardship Preparation and planning

Acknowledgment Purpose: Gift receipt, appreciation, future gifts, relationship building Gratitude Day, Box of thanks, handmade, appreciation , scholarships, poem, music, art, lunch with the CEO, word clouds Whose getting (Women) whose asking (Men) Relationships and common interests Public versus private

Achievements Higher Education- Dartmouth College, Arizona State, 4W Health care: Family Caregivers Center, Lyda Hill, CAMH/mental health Environment: Winona LaDuke, Trees Forever, Women of the Land, Burt s Bees

Investing in women -owned businesses Gender Lens and Impact Investing Maverick Collective/Emerson Collective New Trends in Women s Philanthropy Women on Corporate Boards MacKenzie Scott- unrestricted Blue Meridian- foundations and investors LLC versus traditional family foundations

1.3 million African Americans, Asian Americans and Hispanic Americans have a net worth of over $1 million Donors of color have more often built their wealth Diversity, Equity and Inclusion Donors of color are not connected to other donors of color or philanthropy networks Donors of color would give more if asked Dual identity is important: Women and Black, Hispanic, Asian

Diverse Donors Education, Age, Income, Culture, Tradition Kinship and informal networks Immigrant, versus second, third generation Social, technology, religion, education, arts, culture, business, poverty, environment

Use technology Networks and friends Younger Donors Service Transparency Next Gen of the Golden Age of Giving

Assess why your organization would want a WP program? Chapter 6 Assessment process. How does it align with your mission? Do you have someone who is passionate about it? Will leadership be engaged and supportive? How would it fit within your current fund development department? Integrated and unique What do you know about your women donors? Organizational Readiness

Organizational Lifecycles Staffing Mission, Organizational Action Strategy/Structure Goals Objectives Metrics and Evaluation

The Fourth Wave Can fundraisers engage and inspire more women donors? Can organizations build programs for women donors? Will the philanthropic community respond? Will women donors inspire other women to give? What will you do?

Questions