Did you know that less than 2% of US philanthropy today flows to women and girls' causes? It is reported that 93% of affluent women give to charity, 56% volunteer, and 23% serve on the board of a nonprofit according to US Trust. One in four affluent women support women and girls’ issues. From the outset, this set of data doesn’t align. We were curious…
Digging Deeper: Women, Wealth and their Communities
We have heard that nearly 40-50% of wealth in the United States is currently held by women. It’s projected that women will control 70% of the future wealth over the next 30 years. That equates to $41 trillion. Women are earning more than previous generations and they will likely inherit two times in their lifetime. Women tend to give more of their time and money than men and they like to do it in the company of others. What are the potential implications for women and girls issues in our country as more wealth becomes concentrated in the hands of women?
We know women are motivated differently than men when it comes to their philanthropic giving. We wanted to share more on how that may impact the future of philanthropy.
Women go “all in” with their philanthropy. They give not just their time and money; they offer their expertise and advocacy.
Women are more likely to give their money away while living.
Women are more likely to utilize impact investing to complement their philanthropic giving strategy.
Women are more likely to direct funds to causes that have been historically underfunded.
Women tend to seek collaboration and giving circles when it comes to their philanthropy (70% of giving circles have more than half women members).
Women are known to support activism.
Women are not afraid of taking risks in their philanthropy and are more likely to embrace the notion of “failing fast” in the social sector.
State of Play: Women are Reimagining Philanthropy
Members of the Grant Philanthropic Advisors team recently attended the Women’s Philanthropy Institute’s All In, All Rise Symposium. We heard, on repeat, that women are reimagining philanthropy. Session topics included Next Gen Donors and the Future of Women’s Philanthropy; Women Impact Investing Strategies; Courage, Grit, and Joy: Brave Philanthropy in Action; Why Women Give—At the Intersection of Philanthropy, Equity, and Impact. Speakers focused on how female philanthropists can drive effective change for women and girls’ outcomes in terms of health, economic access, safety and leadership opportunities.
Keynote speaker, Rosie Rios, the 43rd Treasurer of the United States, said: “If you see yourself in history, it will impact your value and how you view your future.” As a nation, we are lacking public images of powerful women. During Rios’ tenure at Treasury, she led the charge to put more American women on currency; something that had never been done before. Rios showcased how women flatline around 20% in leadership positions (22% of law partners; 24% of Governors; 26% of Mayors; 27% of Congress). She talked about the impact of invisibility vs. the power of visibility as it relates to women and history. She said, “We value what we see every day, but do we see what we value?”
She called for philanthropy to fuel more imagery of historical female figures to inspire today's girls to reach for tomorrow's leadership positions.
Why does this matter?
The Washington Post recently featured an article, The Crisis of American Girlhood. They cited a CDC study published in 2023 on female adolescents and teens; the findings are deeply troubling.
One in three high school girls considered suicide; up 60% in the last 10 years.
60% of girls were so sad that they stopped engaging in activities.
46% of girls don’t think they’re smart enough for the career they’re interested in.
As the great wealth transfer takes place and women continue to earn more than ever in their careers, we must empower more women to engage in civil society to not only save our girls, but to inspire them as well. The health of our communities depends on it. We will be exploring this topic in the coming months so give us a call if you want to dive deeper with us.
