It’s no secret that women in households generally are the decision makers when it comes to charitable giving. But as women increasingly create their own wealth as business owners, and are more often the beneficiaries of wealth transfers (because they live longer), women have taken on a leadership role in donating to nonprofits.

Some of these leadership factors were unveiled in a recent study by the Fidelity Charitable Gift Fund. Specifically, the study found:

  • While 92% of men name their spouses as the primary influencer in charitable giving, women draw from a number of influencers that include their spouses (84%), extended family (24%),  friends (23%) and co-workers (17%).
  • High-income women are more likely to give publicly rather than anonymously when compared to donors in other categories.
  • Women have a stronger sense of instilling charitable giving as a valued family tradition, with 48% saying this is critical vs. 39% of men.
  • High-income women tend to be more innovative in their giving, saying they want guidance from a financial professional (12% vs. 9% of all donors), and are more likely to use securities for donations (7% vs. 5%) and giving vehicles such as donor-advised funds, charitable remainder trusts and private foundations (5% vs. 2%).

According to a survey by the National Foundation for Women Business Owners, women are more likely to hold leadership positions within charitable organizations, such as serving on boards or fundraising. And, while both women and men business owners are more involved philanthropically than the general population, half of women with assets of $1 million or more contribute at least $10,000 a year compared to 40% of men.

The findings are interesting because they point out the importance of intentionality in our giving – whether we’re male or female. Our donation of time or money can have an impact on the success of our cause, but we can be even more effective by taking on a leadership position. When developing your giving strategy, consider:

  1. Which causes should I support and how should I research them?
  2. How much do I have to give and how should I allocate those funds among the causes?
  3. What other ways should I support the causes, perhaps as a volunteer, fundraiser or board member?
  4. How can I better leverage my skills, knowledge and position to benefit my causes?
  5. How visible do I want to be about the causes I support in my role as a business leader, community member, friend and/or parent?

- LuAnne Speeter