Women and Giving: Meaningful Approaches

and Stewardship

2/23/17 1pm Eastern

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Our guest presenter »Judith Smith, CFRE • Director of Planned Giving for the

Arizona Community Foundation • She has been an executive director, a

fundraising consultant, and an educator.

• Formerly Principal Consultant at Funding Services Now, ED at Optimist International Foundation, Board Member for Arts and Education Council of Greater St Louis, Past President of St. Louis Planned Giving Council

Women and PhilanthropyFor Bloomerang

February 23, 2017

Judi Smith

A little history

! Women have long been philanthropists:

! In 1643 Lady Mowlson, a wealthy British widow, endowed Harvard’s first scholarship.

! In 1894 Harvard turned it’s women’s “annex” into a college and named it after its first female benefactor: Anne Radcliffe (Lady Mowlson)

Juliette Gordon Low

! Widowed by a wealthy husband

! Traveled and met Lord Baden-Powell

! Had started Boy Scouts in England

! Girls were trying to “crash”

! “Daisy” sympathetic to interest in outdoor pursuits

! Started Girl Scouts in the US (1912-1913)

Eleanor Roosevelt

! Chaired the March of Dimes to cure polio

! Also emphasized the value of women professionally by hosting weekly press conferences at which only women reporters were allowed.

Today, if asked to name a current female philanthropist . . .

! Melinda Gates

! Oprah Winfrey

My level of expertise

! A fundraiser -- not a researcher

! Have read and tried to apply the research of others

! Sondra Shaw-Hardy

! With Martha Taylor founded The Women’s Philanthropy Institute

! Margaret May Damen

* Have not had the pleasure of working with either Oprah or Melinda Gates

The mid 1990’s

1990’s

! Title IX was enacted in 1972.

! 1972 was also the year the push for the Equal Rights Amendment began.

! After 20 years, in philanthropy, we were starting to see

! Women’s foundations

! Women’s giving circles

Shaw-Hardy/Taylor 6 C’s

! Motivations for Women’s Giving

! Create

! Change

! Connect

! Commit

! Collaborate

! Celebrate

And updated for the 21st Century:

! Control

! Confidence

! Courage

! http://www.jcamp180.org/uploadDocs/3/6-C%27s-Women%27s-Motivations-for-Giving.pdf

Turn of the Millennium

! The biggest news in philanthropy was the Boston College study that predicted a $41 trillion intergenerational wealth transfer

! States and cities started trying to figure out their share of the pie.

! Suddenly the reality hit of who would actually control that wealth.

The “Pink” Gap

! Average 2016 life expectancy for US women: 81.2 years

! Average 2016 life expectancy for US men: 76.4 years

!The Pink Gap 4.8 years

At the same time,

! Boomer women were coming into their own

! 2004 the Women’s Philanthropy Institute moved to Indiana University and became both a research and educational force in gender studies in philanthropy

! Margaret May Damen wrote of Boomer women changing philanthropy

! Before we were eclipsed in late 2016 by the Millennials, Boomers were the largest demographic.

! 10,000 of us were turning 65 every day.

Although many similarities, there are differences between Boomer women and their mothers’ philanthropy

Boomers! Less likely to consult a man about giving

! More likely to feel an ownership in her wealth

! Receptive to consideration about changing philanthropic plans established as a couple

! More likely to attach her name to something philanthropic

Their Mothers! More likely to consult an advisor,

trusted male relative or friend about giving

! Likely to feel a partnership in their wealth

! Less likely to alter philanthropic plans established as a couple

! More likely to attach her husband’s name to something philanthropic

Case Study

! In 2006, we had survived the economic downturn at the turn of the millennium and women and philanthropy and women’s giving circles were a hot topic. As ED of a national foundation, I was asked to start a women’s giving circle. The women leaders of this organization were not necessarily donors. Some had responsible professional leadership positions. Some were married to leaders. Few, if any of them, would qualify for the US Trust Study of High Net Worth Individuals. They were scattered around the country. I decided that they needed to educate themselves in women and philanthropy, so we started with a book club and group phone conversations to discuss them. A book I had chosen on a whim, became the book they most related to – How to Get Rich Selling Cars and Trucks to Women.

Here is some of what we learned from How to Get Rich Selling Cars and Trucks to Women

! This really is a book about exactly what it’s title says.

! However, there are so many salient points for fundraising conversations.

! Let’s start with the basic one. If you are a woman and you’ve ever bought a car and taken a man with you, it’s likely that the salesperson talked to the man instead of you.

! If you are having a conversation with a couple about your organization, do you consciously speak to both members of the couple? Do you shake hands with both of them? Thank both of them? Schedule to get back with both of them?

Here are some section titles from the book

! It’s the Relationship ! Not Until She Trusts You ! How Men and Women Relate to Other People ! How Men and Women Express Themselves ! How Men and Women Take in and Process Information ! How Men and Women Make Buying Decisions ! Think Relationship Before Product ! Respect Her, Her Time, and Her Timing ! Tap Into Her Story ! Turn Your Presentation into a Conversation ! Don’t Allow a “no” to End the Process

So many parallels to our work . . . Decision making

Women! Influenced by how they are treated,

they buy a relationship

! Circular activity that may involve multiple conversations, research, collaboration; it’s a process.

! Longer timeline but more loyal

! Interested in what it does for them and those who matter to them

Men! Influenced by the deal, they buy a

product

! Linear process about solving a problem

! Quicker decisions, but less loyal

! Interested in how it works

So many parallels to our work . . . Processing Info

Women ! Women nod to indicate they are

listening

! Women seek out options and opinions, expanding the process

! Women are comfortable asking for help and admitting they don’t know; they see themselves as lifelong students

Men! Men nod to indicate agreement

! Men try to eliminate factors and narrow the focus to key points

! Men see themselves as masters of the situation and are not necessarily comfortable asking for help or direction.

So many parallels to our work . . . Don’t allow a “no” to end the process

! Regardless of what you’re told (if you’re told) you may not really know why the gift didn’t happen.

! Don’t add any pressure to the situation.

! Keep the door open for future engagement, events, conversation.

! Ask for feedback so you can do a better job for someone else.

So many parallels to our work . . . Sometimes it’s the way we say it

Instead of! We’ve never done that.

! The three things you need to know about this project are…

! Remind me to give you our brochure before you leave.

! I’ll send you this fillable form.

Try this! Let me see if it’s do-able.

! What more could I tell you about this project?

! Would you like some printed information to take with you?

! After you’ve looked over the information, we can fill it out together and I’ll get it submitted.

Why do we care?

! As fundraisers, women are important to us:

! They may make the ultimate decisions about a couple’s estate.

! Boston College predicts that in the next 35 years, women will inherit 70% of that $41 trillion intergenerational estate transfer.

! There are generational differences as well as gender differences

! Women donate a larger percentage of their income to charity than do men or couples.

There are gaps

! Wage Gap. Over her lifetime, a woman’s earnings will average 21.7% less than a man’s. – US Department of Labor 2015

! CEO Gap. Of the Fortune 500 companies, 23 CEO’s are women. -- Wikipedia

How do we apply?

Check yourself:

! When talking to a couple, do you look at and talk to both of them?

! If a woman nods, do you think she’s agreeing with you?

! Try to get beyond a “no” to the “why.”

! Don’t be afraid to ask for feedback.

! Don’t be impatient with her timeline.

! Maintain the relationship.

! Continue cultivating if no gift.

! Steward if a gift.

How do we apply

Check your organization

! Does your database list only the man or the man first?

! What happens when the man dies? Do you lose the woman? Is it a manual process to activate or keep the woman?

! When a donor hasn’t given X amount of years, do you drop them from your mailings?

Continue to honor and include the spouse, who is likely to be female, after the husband’s death.

Resources

! How to Get RICH Selling Cars and Trucks to Women! Rebecca Maddox, MBA, CPA and Marti Smye, PhD. 2006.

! Lean In: Women, Work, and the Will to Lead. Nell Scovell and Sheryl Sandberg. 2013.

! Women, Wealth and Giving: The Virtuous Legacy of the Boom Generation. Margaret May Damen and Niki Nicastro McCuistion. 2009.

! The Transformative Power of Women and Philanthropy. Martha Taylor and Sondra Shaw-Hardy. 2006.

! Women Give 2016. Women’s Philanthropy Institute, Indiana University Lilly Family School of Philanthropy. 2017.

The reason women don’t play football is because 11 of them

would never wear the same outfit in public.

-- Phyllis Diller

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