Gender Equity in Philanthropy: Are We About to Balance the Scales?
Women’s wealth is accelerating.
The growing number of successful female entrepreneurs, the rise in the number and status of women in the workplace, and the focus of the public and political debate on women’s experience all mean that women have more capital and more ways to spend it than ever before. According to a recent report by Boston Consulting Group, this year women’s global wealth will rise to at least $81 trillion. In 2010, that number was $34 trillion.
As we aim to #EmbraceEquity this week of International Women’s Day, it’s worth considering how the increase in global women’s wealth is creating an opportunity for female philanthropists to balance the scale of philanthropic giving in their favour.
Today, the scale, intricacy, and dedication of women’s philanthropy are finally in the spotlight.
Women giving away wealth is nothing new. Wealthy, and not so wealthy, women have supported their communities and those in need throughout history. Whether that was through giving food, time or organisational skills, women have always donated, but they have done so behind the scenes.
Today, the scale, intricacy, and dedication of women’s philanthropy are finally in the spotlight. Women like Jamie Cooper and Patricia Hamzahee are spearheading incredible philanthropic initiatives, unprecedented in scale and in the novelty of their approach. Aspects like open-ended giving, truly representative leadership teams, and transformative partnerships with governments are just some examples of innovation by female philanthropists.
Causes that empower women and girls understandably appeal to female donors. An example of this is the Global Fund for Women, a feminist fund that founded an organisation to support grassroots women-led movements directly via flexible funding, where resources move directly into the hands of feminist activists who know exactly how to use it.
Non-financial giving remains important to women, with the importance of collaborative action being through networks such as Women Moving Millions, which has 374 individual members in over 16 countries and strives to accelerate progress toward gender equality.
This Women’s History Month, we are seeing female philanthropists inspire younger generations of female donors to take positive action to help make society more inclusive, prosperous and caring.
However, barriers facing female philanthropists remain. To help achieve true equity within the wealth sector, women must be able to access every vehicle that helps them in their giving journey. At NPT UK, we challenge ourselves to create environments where our female donors can thrive and have an impact on the causes they support.
NPT UK does not provide legal or tax advice. This blog post is for informational purposes only and is not intended to be, and shall not be relied upon as, legal or tax advice. The applicability of information contained here may vary depending on individual circumstances.
NPT UK is not affiliated with any of the organizations described herein, and the inclusion of any organization in this material should not be considered an endorsement by NPT UK of such organization, or its services or products.