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Women Have The Wealth To Give
by Kate Lee
October 30, 2008
N
early half of the nation's top wealth-holders are women, according to the IRS.
While women over 55 tend to have controlled inherited wealth, younger women appear to have a higher
percentage of earned wealth. Yes, that's correct! Most over 55 have generally inherited their
wealth from family or spouse.
With the nation poised for nearly
$41 trillion of wealth transfer that will take place in the coming decade, are nonprofits changing
their fundraising approaches to address women in control? Does the difference between
inherited wealth and earned wealth influence how women give?
Some would counsel nonprofits to modify their fundraising appeals, arguing that women are
more likely to respond to the mission of the organization and whether the organization has
developed a relationship with the potential donor. For example, The Sharpe Group contends
that "[men] are more interested in naming opportunities, competitive giving, and career
advancement" as motives for donations, with women more concerned with "making a difference in
society and not as motive by recognition," according to The Sharpe Group, who provides financial
and planning services to nonprofits.
Even the Women Donors Network finds distinction between the sexes when it comes to personal
philanthropy. "Money is a piece of it, but women tend to become partners with nonprofits," says
Donna Hall, executive director of the network.
Close to home, CARE has modified and positioned itself to appeal to women, by focusing on
empowering women worldwide. The Economist, a weekly international political and
business publication, came to the same conclusion as CARE, calling it "womenomics" - and says
"women are now the most powerful engine of global growth."
