Women are proved to be more empathetic and higher on emotional intelligence than men. Both of these are key traits that make an effective philanthropist. According to ‘Women moving Millions’, women have the potential to raise up to $ 1 Trillion every year for philanthropy. The report adds that millions of women across the world have access to family fortunes, foundation resources, and the corporate purse. Yet, only 7% of all that money goes into helping women and girls specific causes.
Women Moving Millions co-chair Jacquelyn Zehner told Forbes, “when women and girls thrive, so do communities, countries and the world as a whole.” Quoting President Carter, she also stated that if the gender injustice is not addressed soon, the society will never reach its true potential.
According to the research, “In 2009, the Boston Consulting Group estimated that women controlled 27% of the world’s wealth – approximately $20 trillion. … Globally by 2026, women’s charitable giving would reach $1 trillion per year if women gave at 1.7%, the lowest percentage of giving from disposable income on record in the US for the last 40 years.”
[Picture Courtesy: The University of Toledo]
Zehner strongly believes that the ‘one size fits all’ theory doesn’t work in philanthropy. She states: “Poverty in Bridgeport, Connecticut is very different then poverty in Monrovia, Liberia.” Similarly there are huge differences between men and women – biologically and socially; and philanthropy needs to analyze and address them.
She hopes that soon women across the world would step up and contribute more towards helping causes that affect other women. She concluded by citing a study by the Women’s Philanthropy Institute, and said that studies prove women do things differently than men and this brings a lot of hope to those who work in philanthropy.