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Women and men make their giving decisions differently. Judith Smith, CFRE will cover research regarding women and philanthropy and how it might apply to our work.
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Before we get started »
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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
6. 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)
7. 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)
8. 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.
9. Today, if asked to name a current female
philanthropist . . .
! Melinda Gates
! Oprah Winfrey
10. 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
12. 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
13. 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
14. 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.
15. 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
16. 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.
17. 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
18. 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.
19. 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?
20. 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
21. 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
22. 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.
23. 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.
24. 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.
25. 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.
26. 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
27. 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.
28. 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.
29. 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.
30. 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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a Case Study on Tripling Fundraising Results in 36 Months
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