If you want generosity - look to women

Women and money |

Generosity is on the rise for women in the United States.

One thing I have learned over my long career, is never underestimate the generosity and caring that women bring to the table.

I served in a leadership role for 35 years in the area of women’s health with two healthcare institutions. When I served in the maternal/child area, our local hospital foundation would come to me on an almost annual basis to have my help with their fundraising effort.

After a few years, I asked them why they kept coming to me and not some of the other hospital departments. Interestingly enough they told me that women and children/infant issues are what brought out the donors.

What they really should have said is that women are generous in giving to a cause that they understand, is important to them and they can relate to.

A few years later, the same institution saw a need to build a freestanding women’s center. After we looked at what we needed for the center and received the cost estimate, the administration didn’t think they could support financing the project. A co-worker in the foundation office and I knew that if we asked women in the community, we could raise the money. The hospital gave us their blessing and a few short months later, our all-women capital campaign team brought in more than the amount the hospital had asked us to raise for this effort. Now that is generosity and making a difference!

Women have changed the face of giving. With more money and increased influence over how it is spent, women are stepping up to help solve the issues of our time. Here are some interesting facts:

  • The number of wealthy women in the United States has grown at a rate two times that of men.
  • Women now control more than half of the private wealth in the U.S.
  • Women-owned business is the fastest-growing segment of the economy.
  • Women live longer than men, meaning many married women will have to make financial decisions without their partner. More than 90 percent of women will have to make financial decisions on their own.
  • Women will inherit 70 percent of the $41 trillion in wealth transfer that is expected over the next 40 years.
  • Women head-of-households at nearly every income level are more likely to give to charity than male head-of-households.
  • Women give almost twice as much to charity as men.
  • Single women are more likely to give to charity than single men.

Let’s celebrate the strength women bring to the giving table – not only of financial resources but our time, our talents and our money. Embrace a sister today and thank her for all she contributes.

Sources:

Women Give 2012. Women’s Philanthropy Institute. 2012.

Women and Retirement. Insured Retirement Institute. 2012.


Teresa Boshart Yoder

Author

Teresa Boshart Yoder
Everence Managing Director

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