This document provides information on women's growing economic power and role as donors. It notes that women now own a significant portion of wealth and businesses in the US. They are increasingly likely to be primary breadwinners and inherit wealth. The document recommends that non-profits develop gender-sensitive fundraising programs that recognize women's preferences to connect, collaborate and make a sustainable impact when donating. It suggests tracking women's past giving, ensuring spouses are both acknowledged, and asking women directly for donations.

1. TIPS FOR SOLICITING PLANNED
GIFTS FROM WOMEN
Presented to the AFP Westchester
National Philanthropy Day
November 7, 2013
Margaret M. Holman, President

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The Economic Power of Women
Women are building
wealth
59% The growth in the number
of women-owned businesses
since 1997
41% The rise in the number of
businesses overall
29% The share of businesses
owned by women
$1.3-trillion The estimated
amount of revenue generated
by women-owned businesses
Women are breadwinners
40% of households with
children under 18 include a
female who is the primary wage
earner
37% of those are married
women who earn more than
their husbands
$80,000 is the median income
for households with children
where wives earn more than
their husbands
$57,100 is the median income
for all households with children
Source: The Chronicle of Philanthropy, Section B, “Tomorrow’s Donors,” August 15, 2013

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The Economic Power of Women
Nearly half of the top
wealth-holders in the
U.S. are women,
including more that
three-million women
with annual incomes
greater than
$550,000.
Source: “Fem-anthropy: Women’s Philanthropic Giving Patterns and Objectives”, Advancing Philanthropy,
March-April 2010; Chronicle of Philanthropy “Fundraising and the Female Donor”, September 2013
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The Economic Power of Women
• Women own 43% of
stock portfolios with
values over $500,000
• Women own 45% of
investments in other
markets
• Women own a majority
of all stocks traded on
the NY Stock
Exchange
Source: Jewish Federations of North America, National Women’s Philanthropy: Philanthropic Profile, July 2011
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The Economic Power of Women
• Women will inherit 70% of the intergenerational wealth in
the next 50years.
• Many women will inherit twice – from their parents and
then from their husbands.
Source: “Fem-anthropy: Women’s Philanthropic Giving Patterns and Objectives”, Advancing Philanthropy,
March-April 2010; Chronicle of Philanthropy “Fundraising and the Female Donor”, September 2013

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The Economic Power of Women
• The average planned gift from women ranges from
$30,000 to $80,000.
• Of those with the biggest estates ($5-million+), nearly half
of them leave a charitable bequest. Only a third of
wealthy men do.
Source: “Fem-anthropy: Women’s Philanthropic Giving Patterns and Objectives”, Advancing Philanthropy,
March-April 2010; Chronicle of Philanthropy “Fundraising and the Female Donor”, September 2013

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Women Bequest Donors
Lady Mowlson, Ann Radcliffe’s will to establish Harvard’s first endowed
scholarship on May 9, 1643
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Recent Women Bequest Donors
• Muriel Block, $160-million
to Yeshiva University &
Albert Einstein College of
Medicine
• Dorothy Clarke Patterson,
$225-million to a variety of
foundations
• Brooke Astor, $190-million
to a variety of charities
• Virginia Bernthal Toulmin
$87-million to colleges &
Universities
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Factors that Encourage Women’s Gifts
Create
Women want to
be a part of
creating new
programs &
outcomes
Celebrate
Important to
celebrate
women’s giving
impact
Commit
They may take
longer to make
a decision, but
they are loyal
Factors
for
Women
in Giving
Collaborate
Natural
networkers
and prefer to
connect with
others to
design
Change
Women want to
know their
involvement will
make a sustainable
difference
Connect
Important to
connect to the
human face of
their support
Source: Chronicle of Philanthropy Webinar
“Fundraising and the Female Donor”,
September 2013

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Barriers to Women’s Giving
• Difficulty in accepting the responsibility and
power associated with money.
• Women see themselves as peacekeepers and
collaborators.
• “Male bastions” discourage female giving.
• Desire for anonymity.
• Mrs. Russell Sage gave away $80 million by 1918.
• She said, “It’s ill mannered to call attention to one’s self.”
• Changing in today’s world.

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Barriers to Women’s Giving
• Fear of the future
• Absence of children or
grandchildren.
• The more they feel secure
about their financial future,
the more they bequeath to
charity.
• A study in 2006 found that
90% of a total of nearly 2,000
women who participated said
they felt somewhat or not at
all financially secure.
Source: The Allianz Women, Money & Power Study
released by the Allianz Life Insurance Company of
North America
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Barriers to Women’s Giving
• Unfamiliarity with
financial matters
• Only 23% of women
felt “well prepared” to
make financial
decisions
• Offer financial
seminars for women
only
Source: Prudential Study: Women & 12
Money
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Barriers to Women’s Giving
• Lack of image as
philanthropists
• Women give smaller
gifts to more charities.
• A common pattern is to
give $100 annually and
leave a major bequest of
$100,000 or more.
Source: Bidding for Good
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Women as Planned Gift Donors
• Wally and Beaver
are all grown up
now.
• With Ward Clever
gone, most
institutions are
reaching out to June.
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Developing a Gender Sensitive
Fundraising Program
• Segment this diverse
market
• Subdivide into age
categories
• Over 60: Women are
discovering the thrill of
giving.
• Use peer stories
• Subdued colors, graphics
and copy
• Larger typeface (at least 14
point)
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Holman Consulting
Developing a Gender Sensitive
Fundraising Program
• Between 40 to 60
• Time of reevaluation
• Financial, retirement
and estate planning.
• Use more colorful,
crisper graphics.
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Holman Consulting
Developing a Gender Sensitive
Fundraising Program
• Focus on things
women care about:
• Children
• The Elderly
• Health care
• Education
• Animals
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Eight Ways to Enhance Awareness of the
Potential for Women’s Giving
1. Quantify women’s giving over the past five
years
•
•
Run reports to see the total number of gifts from
men and women; the total gift dollars from men and
women; the level of giving by men and women.
Organizations that do this are surprised by how
much women are already giving without any special
programs or expectations.
Source: Sondra C. Shaw & Martha A. Taylor

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Eight Ways to Enhance Awareness of the
Potential for Women’s Giving
2.
•
Review Donor Acknowledgement
Pay close attention to records and make sure you know which
partner in a marriage is the constituent, who was actually
solicited, who made the contribution, and how the donor
wishes to be acknowledged. It’s better to know than to guess.
Source: Sondra C. Shaw & Martha A. Taylor

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Eight Ways to Enhance Awareness of the
Potential for Women’s Giving
3. Examine Your Record-Keeping Methods and Gift
Coding
• Is your computer system gender-friendly? Can you credit spouses
individually as well as in couples?
4. Review Your SOP
• When you set up an appointment with a male prospect who is
married, do you ask if his wife will be there also?
• Important to establish a relationship with both partners – remember
women outlive their male counterparts by at least 7 years!
Source: Sondra C. Shaw & Martha A. Taylor

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Eight Ways to Enhance Awareness of the
Potential for Women’s Giving
5.
Research and publicize several large gifts made by
women.
•
Recognizing these gifts does two things:
•
•
Gives credit to the woman philanthropist
Encourages other women to do the same.
Source: Sondra C. Shaw & Martha A. Taylor

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Eight Ways to Enhance Awareness of the
Potential for Women’s Giving
6. Examine your boards and campaign leadership and
how members are recruited.
• Female prospects look carefully at board composition as an
indication of an institution’s commitment to gender equality.
7. Call on women and ask them to give.
•
•
Target women for 50% of your contacts.
If you don’t ask, you won’t get…
Source: Sondra C. Shaw & Martha A. Taylor

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Eight Ways to Enhance Awareness of the Potential
for Women’s Giving
8.
Apply female communication
methods when calling upon
women.
• Remember, women use language
differently than do men.
• Women use language to achieve
connections, while men use it to assert
their autonomy.
• Conversations with women are a way of
establishing rapport and negotiating
relationships.
• Men regard conversations primarily as a
means to preserve independence and
negotiate and maintain status in a
hierarchical social order.
Sources: Sondra C. Shaw & Martha A. Taylor; You Just Don’t Understand:
Men and Women in Conversation by Deborah Tannen
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Remember these Bequest Specific Motivations
• The lack of family need
• A desire to be
remembered
• A desire to limit the
amount to family
• A desire to make a
difference
• Reciprocation
• The need to manage
estate taxation
Source: The Center on Philanthropy at Indiana University
Study: Gender Differences in Giving Motivations for Bequest
Donors and Non-Donors, 11/09

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Smart Women and Money
“I am a marvelous
housekeeper.
Every time I leave a
man, I keep his
house.”
Zsa Zsa Gabor
Holman Consulting, Inc.
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Thank you!
330 Madison Avenue, 9th floor
New York, NY 10017
646-495-3240
www.holmanconsulting.com