“Women in Philanthropy” (from Forbes.com)
August 20, 2009
(by Betsy Brill)
While the relationship between women and philanthropy has always been a strong one, it has not necessarily been highly visible. This has begun to change, and women's influence on the practice of philanthropy cannot be ignored. Women now control more than half of the private wealth in the U.S. and make 80% of all purchases. According to Boston College's Center on Wealth and Philanthropy, women will inherit 70% of the $41 trillion in intergenerational wealth transfer expected over the next 40 years. In addition to controlling wealth and consumer activity, women tend to donate more of their wealth than men do. A Barclay's Wealth study titled Tomorrow's Philanthropist, released in July 2009, showed that women in the U.S. give an average of 3.5% of their wealth to charity, while men give an average of 1.8%.
But it's not just who gives that is changing--there is, after all, a rich history of high-profile women contributing generously to significant causes--but it's how they are giving and to whom that is redefining contemporary philanthropy. Private foundations and public charities dedicated to fundraising by and for women and girls have grown at a faster rate than giving by the overall foundation community. A report conducted by the Foundation Center and Women's Funding Network found that from 2004-2006, giving by women's funds' grew 24%, while foundation giving overall grew by 14.8%. These same women's funds saw double-digit fundraising gains during this period; in 2006, they raised $101 million, up from $72 million in 2004...
Comments