Women are becoming an increasingly powerful force in American philanthropy, bringing economic clout and financial acumen to charitable giving and assuming leadership roles.
In a recent webinar sponsored by the Purposeful Planning Institute, Melanie Hamburger (left), principal at Catalytic Women in Mill Valley, Calif., discussed the growing profile of women in the philanthropic arena, some of the challenges they face and the way in which their approach to charitable giving differs from men's.
Catalytic Women, according to its website, is a consortium of philanthropy professionals who bring practical experience to helping individuals give wisely and with maximum impact.
A Shifting Demographic
Hamburger noted that in 2010, individuals in the U.S. donated $212 billion to nonprofit organizations. Thus, individuals have a significant role in funding nonprofits in general, providing a market mechanism to the sector.
In the San Francisco Bay area, where her work is concentrated, and across the country, Hamburger has noted a shift in demographics. Intelligent, well-educated women are focusing time on decisions that serve themselves and their families well and are engaging in philanthropy at a sophisticated level.
She said the market of Catalytic Women is women roughly in the 40-to-65 age range, many of whom have given up careers because they married into complicated situations of wealth, involving perhaps a successful husband, children, multiple properties and managing household spending decisions–essentially running a business.
Many of these women, she said, are now engaging in philanthropy at a very high level. They bring powerful collective economic clout to spending decisions. They think about best models of nonprofits and fund those models.
Women, she said, are shifting into positions as leaders; many have run family foundations. "A lot of women in the Bay Area are starting significant foundations," she said.
Not everybody has yet figured out how influential women have become in philanthropy. She cited an example from her days as a fundraiser. When she and her colleagues were getting ready for a big "ask," she would remind them to focus on the wife rather than direct all their attention to the husband because the wife is often the decision maker in these decisions.
