Women and PhilanthropyWomen and Philanthropy

The Dynamics of Women’s Giving The Dynamics of Women’s Giving Gender MattersGender Matters

Presented by:Presented by:

Janet DoolinJanet DoolinDoolin Consulting LLCDoolin Consulting LLCJan@janetdoolin.comJan@janetdoolin.com

Trends in GivingTrends in Giving

Financial AwarenessFinancial Awareness

Earning Power/WealthEarning Power/Wealth

The Desire to Address Social NeedsThe Desire to Address Social Needs

Celebrating Business Achievements Celebrating Business Achievements

The Importance of Giving BackThe Importance of Giving Back

The Potential of The Potential of Women DonorsWomen Donors

Net Worth of Women Has Doubled Net Worth of Women Has Doubled

Almost 70% of Women are Employed Almost 70% of Women are Employed

Growth of Women-Owned BusinessesGrowth of Women-Owned Businesses

Women as Women as Wealth HoldersWealth Holders

In 2001 - 3.4 million women with In 2001 - 3.4 million women with gross assets of $675,000 or over. gross assets of $675,000 or over.

Average net worth - $1.7 million.Average net worth - $1.7 million.

Women’s Attitudes Women’s Attitudes on Wealthon Wealth

Guardianship Attitude - 40% Guardianship Attitude - 40% (Born (Born Before ’45Before ’45)) Protect what’s entrusted to themProtect what’s entrusted to them Not always confident about their wealthNot always confident about their wealth

Ownership Attitude - 60% Ownership Attitude - 60% (Born (Born After ’45After ’45)) Women who earned their wealth Women who earned their wealth Women actively involved in their investmentsWomen actively involved in their investments

Top Barriers to Top Barriers to Women’s GivingWomen’s Giving

Don’t think they are philanthropistsDon’t think they are philanthropists

Don’t feel ownership of family moneyDon’t feel ownership of family money

Are afraid of outliving resourcesAre afraid of outliving resources

Financial advisors don’t encourage givingFinancial advisors don’t encourage giving

Women aren’t asked to give Women aren’t asked to give

How to Appeal toHow to Appeal to Women Donors Women Donors

Women tend to take a holistic approachWomen tend to take a holistic approach

Like to be involved in multiple ways and Like to be involved in multiple ways and touch multiple livestouch multiple lives

Connect women to each otherConnect women to each other

Provide women with feedback Provide women with feedback opportunities - surveys, evaluations etc.opportunities - surveys, evaluations etc.

Women and Major GiftsWomen and Major Gifts

Women value challenge Women value challenge over competitionover competition

Women are less likely to Women are less likely to seekseek recognition - but will recognition - but will accept itaccept it

Women take longer to Women take longer to decide about major gift decide about major gift decisions decisions

Working with Working with Women DonorsWomen Donors

Assess your donor’s attitudes about money Assess your donor’s attitudes about money and philanthropyand philanthropy

Work with your donor to define their Work with your donor to define their financial goals and their giving goalsfinancial goals and their giving goals

Anticipate some barriers and be patientAnticipate some barriers and be patient

Women and Major GiftsWomen and Major Gifts

Be prepared to involve major donors with Be prepared to involve major donors with your organizationyour organization

What role will your major donors play What role will your major donors play beyond making a major gift?beyond making a major gift?

Are there women in leadership positionsAre there women in leadership positions

on your staff, board, and volunteer on your staff, board, and volunteer committees? committees?

Women and Planned GivingWomen and Planned Giving

According to an NCPG Study:According to an NCPG Study:

53% of charitable bequests donors 53% of charitable bequests donors are women are women

44% of charitable trust donors 44% of charitable trust donors are women are women

What does this suggest?What does this suggest?

Women and Planned GivingWomen and Planned Giving

Deferred GiftsDeferred Gifts BequestsBequests Gifts in Trust Gifts in Trust Life Insurance Life Insurance Retirement Plans Retirement Plans Retained Life EstatesRetained Life Estates

Women and Planned GivingWomen and Planned Giving Life Income GiftsLife Income Gifts

Charitable Gift Annuities Charitable Gift Annuities Charitable Remainder Trusts Charitable Remainder Trusts Charitable Lead TrustsCharitable Lead Trusts

Partial Interest GiftsPartial Interest Gifts For example – Art WorkFor example – Art Work

What Does it Take to What Does it Take to Sustain Women’s Giving?Sustain Women’s Giving?

Commitment Commitment

CultureCulture

CommunicationsCommunications

CommitmentCommitment Your organization must make a long-term Your organization must make a long-term

commitment to engaging womencommitment to engaging women

Women volunteers must be committed and Women volunteers must be committed and be involved in leadership rolesbe involved in leadership roles

Budget and staff time commitmentBudget and staff time commitment

CultureCulture Does your organization truly support Does your organization truly support

women’s giving and family philanthropy?women’s giving and family philanthropy?

Is collaborative decision-making part of Is collaborative decision-making part of your culture?your culture?

Will your organization be patient? Will your organization be patient?

CommunicationsCommunications

Is there a commitment from Is there a commitment from communications to feature women in communications to feature women in every publication?every publication?

Is there a clear vision, mission? Is there a clear vision, mission?

Do your goals and values reflect women?Do your goals and values reflect women?

Do Your Own ResearchDo Your Own Research Number of women on staff, board, Number of women on staff, board,

committees? committees?

Total number of women in your Total number of women in your organization’s constituencies?organization’s constituencies?

Number of women donors? Couple Donors? Number of women donors? Couple Donors?

Total dollars given by women?Total dollars given by women?

Total gifts expected from deferred gifts and Total gifts expected from deferred gifts and life income gifts? life income gifts?

Assess Your Current Work Assess Your Current Work With Women DonorsWith Women Donors

How much time do you currently devote to How much time do you currently devote to cultivating and soliciting women donors?cultivating and soliciting women donors?

Do you customize your communications to Do you customize your communications to reflect women’s interests and styles?reflect women’s interests and styles?

Do you consider generational and family Do you consider generational and family factors when creating your strategy? factors when creating your strategy?

Tips for Securing More Gifts Tips for Securing More Gifts from Womenfrom Women

Research women’s giving to Research women’s giving to your organizationyour organization

Understand generational and Understand generational and family givingfamily giving

Make sure your publications Make sure your publications and events reflect womenand events reflect women

Tips for Securing More Gifts Tips for Securing More Gifts From WomenFrom Women

Earn the right to ask women for major giftsEarn the right to ask women for major gifts

Properly recognize and steward women’s Properly recognize and steward women’s giftsgifts

Involve women in the planning stages of Involve women in the planning stages of campaigns and initiativescampaigns and initiatives

Encourage women take leadership roles in Encourage women take leadership roles in all aspects of your organizationall aspects of your organization

Additional ResourcesAdditional Resources

Please request a complete bibliography Please request a complete bibliography and additional web resources:and additional web resources: Janet DoolinJanet Doolin Doolin Consulting LLC Doolin Consulting LLC

919.533.0105919.533.0105 www.jantdoolin.comwww.jantdoolin.com

Jan@janetdoolin.com Jan@janetdoolin.com