Posts tagged ‘women v. men’

July 23, 2019

How to Stop Offending Your Women Donors

Just days ago, T. Clay Buck, CFRE, asked a survey question on Twitter:

An informal poll for any who identify as female and also contribute philanthropically. If you are the primary gift giver and are in a relationship, have you ever been listed secondarily or as ‘Mr. and Mrs.’ even though you made the gift?”

While far from being a scientific study, Buck’s poll found that 82 percent of the 68 respondents answered “Yes,” indicating they were recognized inappropriately. Despite not being statistically reliable, the results are sufficiently striking to indicate that the nonprofit sector has a donor-recognition problem.

I’m not surprised. This is the flip side of a problem I’ve talked about on many occasions. Charities often treat women as second-class donor prospects. Now, we see that some nonprofits also treat women as second-class donors.

These problems might be due to carelessness. Or, it could be that some fundraisers are gender biased. Regardless, the way in which some charities treat female prospects and donors is offensive. It’s also stupid. The reality is that women are more philanthropic, in many respects, than men are. Therefore, charities would be wise to immediately address the way they engage with female prospects and donors.

Although I’ve written in the past about gender differences when it comes to philanthropy, I want to highlight some insights from professionally conducted, valid research that underscore the importance of working more effectively with prospects and donors who are women.

A whitepaper from Optimy, Women in Philanthropy, reveals:

  • Women make 64% of charitable donations.
  • Women donate 3.5% of their wealth, on average, while men contribute 1.5%.
  • Women account for 45% of American millionaires.
  • Women will control 2/3 of the total American wealth by 2030.
  • Women are also playing a greater role in philanthropy because of the growth in Giving Circles. Of the 706 Giving Circles reviewed, women led 640.
  • Women made up 77% of foundation professional staff in 2015.

For more insights from Optimy about the role of women in philanthropy and a look at what motivates female donors, download the FREE report by clicking here.

When it comes to planned giving, women are critically important according to a Fidelity Charitable Gift Fund study I first cited in my book, Donor-Centered Planned Gift Marketing:

  • High-income women (those with an annual household income of $150,000 or more) demonstrate a high-level of sophistication in their giving by seeking expert advice.
  • High-income women are more likely to use innovative giving vehicles such as donor-advised funds and charitable remainder trusts. 16% of high-income women have or use a donor-advised fund, charitable remainder trust, or private foundation, versus 10% of high-income men.
  • 7% of high-income women made charitable gifts using securities, versus 3% of high-income men.

Yes, both men and women are valuable contributors to charities who we should cherish. Unfortunately, far too many charities fail to fully appreciate the vital role that women play when it comes to philanthropy. Women are often ignored as solid donor prospects deserving of attention. When women do give, they are often denied the respect and recognition they deserve as Buck’s poll suggests.

Here are some questions to consider as you review your own organization’s donor recognition procedures:

read more »

May 30, 2018

Download FREE Insights about Women in Philanthropy

Women aren’t just important to philanthropy, they’re increasingly important. Let’s look at just some of the insights provided by Optimy in a new whitepaper, Women in Philanthropy.

Women are enthusiastic donors. Consider some of these statistics:

  • 64% of donations are made by women
  • 63% of donations on Giving Tuesday were made by women
  • 3.5% is the average amount of their wealth that women donate while for men it is 1.5%

While men contribute generously to nonprofit organizations, women are building and acquiring greater levels of wealth that will allow them to be larger donors. Here are just a few facts to contemplate:

  • 57% increase in female-owned firms
  • 45% of American millionaires are now women
  • 2/3 of the total American wealth will be controlled by women in 2030

Beyond traditional individual giving, women are also playing a greater role in philanthropy because of the growth in Giving Circles:

  • 46.1% of Giving Circles were launched since 2010
  • Of the 706 Giving Circles reviewed, women lead 640

When it comes to foundation giving, women have more power than ever before:

  • In 1974, 15% of foundation staff were women
  • In 2015, 77% of foundation professional staff were women

For more insights from Optimy about the role of women in philanthropy and a look at what motivates female donors, download the FREE report by clicking here.

When it comes to planned giving, there are also significant gender differences. I pointed out some of them in my post “Men v. Women: Who are the Best Planned Giving Prospects?” and in my book Donor-Centered Planned Gift Marketing where I cited a Fidelity Charitable Gift Fund study:

read more »

July 1, 2011

Men v. Women: Who are the Best Planned Giving Prospects?

Who are the most important planned giving prospects: Men or Women?

Over the years, I’ve talked with planned giving professionals who believe men are the best prospects because they are usually the primary money earners in most families and control family wealth. I’ve talked to others who have argued that women are the best prospects because they tend to outlive their husbands and, therefore, it is their will that will ultimately control most or all of a family’s assets.

So, who’s right?

I explore this issue in the Spring/Summer 2011 issue of Planned Giving Tomorrow, published by PlannedGiving.Com.

Photo by Steven Diaz (via Kaferico at Flickr)

Generally speaking, men and women are just as likely to make a bequest commitment, according to Russell N. James, III, PhD of Texas Tech. However, women are more likely to make a bequest commitment to environmental, health, human service, and religious organizations, according to Giving USA. Men are more likely to leave a bequest to education or public/society benefit organizations. Both women and men are equally likely to leave a bequest to arts and international affairs groups.

According to researchers at Harvard Med, women outlive men by about 4.5 years on average, though the gap is shrinking. That means surviving wives’ wills very often control most, if not all, of how a family’s wealth will be distributed

According to Margaret May Damen, President and Founder of The Institute for Women and Wealth, women make 84 percent of all philanthropic decisions. Among the Boom generation and those younger, women are often earning strong salaries and controlling or influencing how family wealth is invested.

read more »

%d bloggers like this: