Title: Women in Philanthropy Have A Big Impact
Study: The 2011 Study of High Net Worth Women’s Philanthropy (Osili and Mesch, The Center on Philanthropy at Indiana University 2011)
Finding: Women are actively involved with the charities they support.
InPower Insight: Women in philanthropy identify with the needs and mission of organizations they support, beyond the financial dimensions alone.
Summary:
This study conducted by Bank of America, Merrill Lynch and the Center for Philanthropy at Indiana University found that women are the top decision-makers concerning charitable giving in 90 percent of high net worth households. Women are also credited with creating new organizational models for philanthropic engagement, such as women’s funds and giving circles, which have proved to be an effective way to leverage philanthropic resources, engage donors, and build community.
Among the study’s findings,
- women were found to conduct in depth research before giving to charitable organizations;
- 81% were motivated by how a gift could bring about change,
- 78% wished to give back to the community,
- 51.1% supported causes that affected them directly, and
- 86.7% of women volunteered.
Three of the top four major motivations were consistent across both men and women: believing their gift will make a difference, giving to an organization that is efficient in its use of donations, and feeling financially secure.
The most important motivator for women to support a charitable organization is volunteering. Forty-five percent of women were also found to have more open channels of communication with the organizations they support and follow up more diligently than men on the effectiveness of their work.
They are also more strategic in how they provide support, having specific strategies for giving more often than men do. Exactly 90.7% of women requested receipts for tax purposes from their charities and 89.7% exhibit sound business practices. Forty-eight point five percent of women stopped giving to a charitable cause annually when they became suspicious, dissatisfied, or uninterested in the nonprofit organization.
Other results in this study will be interesting to non-profit development and fundraising professionals.
Personal Coaching Tip: If you help support a non-profit in any capacity, financial or otherwise, make an effort to involve women and men in the effort. Women bring proactive insight and a willingness to get involved. A good balance of women and men on the board and in volunteering efforts will provide more sustaining support. As a contributor – in time or money – know that philanthropic involvement with non-profits who have a mission you are passionate about can help you g
Keywords: Charitable Cause, Communication, Giving, Net Worth, women in philanthropy, non-profits
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