Women, Wealth and Flow to Women And Girls’ Organizations
In reflecting on women’s history month, I have been thinking a lot about my grandmother. She was a guiding light for me and my sister. She personified grace, intellectual curiosity and selflessness. Her conversations with us revolved around current events and community needs. She encouraged me and my sister to think critically, to speak our minds and to support our communities, especially those most vulnerable. She passed away when I was 26. I would do anything to have dinner with her now and contemplate philanthropy and its connection to empowered women.
What is happening?
Women and Wealth: By 2030, approximately 2/3 of private wealth will be concentrated in the hands of women. This transfer of wealth is already underway. Women will likely inherit twice in their lifetime, from their parents and from their spouse. And they have the opportunity to earn more than their mothers and grandmothers. Yet women today are earning 85% of what their male peers earn.
Women and Investing: In a 2024 survey of high net worth women conducted by Ellevest, women across generations indicated that investing is a high priority for them and investing money for good is important. This can be social impact investments, outright charitable gifts and volunteer time.
Women and Leadership: Only 10.4% of CEOs in the US are women and 30% of senior leadership roles in Fortune 500 companies are held by women. Today, 28% of Congressional positions are held by women; 24% of state governors are women. These statistics have hovered in this range for years; women have flatlined in their leadership roles. Research shows that better decisions are made with women at the table. Women drive more empathy in creating solutions and also help to reduce risk.
Women and Giving: Less than 2% of philanthropy flows to women and girls’ causes. And yet, Bank of America’s survey of affluent households tells us that 85% of affluent women are driving philanthropic choices in their households; 1 in 4 affluent women give for the benefit of women and girls. 50% of women volunteer their time as compared to 33% of men. What are the implications for women and girls’ causes as the wealth transfer flows to women?
Women and Community: When we invest in women, Melinda French Gates points out that they tend to invest their earnings back into their communities, building resilience when it comes to weathering the inevitable shocks of health, education and economic uncertainties. They tend to invest in their families’ health and education which catalyzes societal advancements and economic prosperity. While French Gates is speaking about women across the globe, I see this firsthand in the communities in which we work everyday.
A Virtuous Cycle
We know that women’s assets are increasing; their desire to do good with their wealth is evident, especially for women and girls; and yet earning and leadership opportunities are lagging for women. We can do better.
There are innumerable barriers preventing women from maximizing their leadership and earning potential. They range from access to affordable and quality childcare and healthcare, professional mentors, educational opportunities in business and STEM fields, and a lack of awareness around pay parity – just to name a few. Many of these solutions can be found in nonprofits who are providing critical programs for women and girls at all stages of life. We need more philanthropic resources flowing to these organizations so their programs can grow their reach and impact.
While the sands are shifting for women in the workplace and in leadership roles, the wealth transfer to women holds great promise. Empowered women with resources can lift all women and their communities. As more women hold wealth and invest it for good, organizations supporting women and girls will thrive. In turn, these well supported nonprofit programs will help to provide greater opportunities for women and girls to live prosperous and healthy lives. As a result, communities are made stronger. In my opinion, this is the ultimate virtuous cycle.
What would my grandmother think about where things stand today with women? I think she’d be curious and optimistic, especially as it relates to a tide of empowered women lifting all boats in their communities.
About Grant Philanthropic Advisors:
We’re an independent, Charleston-based firm helping clients to focus and maximize their philanthropy—in turn, strengthening the fabric of our communities. Founded in 2019, we help donors move from responsive patterns of giving by assisting clients to identify values and become more strategic in their philanthropy. Our goal is to help donors to become more effective as change-makers.
We work with foundations (large and small staff teams), donor advised fund holders, multi generational families, individuals, philanthropy supporting organizations and corporations to design philanthropic strategies. We work with philanthropies that grant $1 million to $40 million annually. Our clients span the Southeast with a concentration in Charleston, Atlanta and Charlotte.