International Women's Day: Celebrating Women in Philanthropy
International Women's Day: Celebrating Women in Philanthropy
London Community Foundation Interim CEO Helen Connell
Time. Talent. Treasures.
Without those three words, our community and our country would be vastly colder and much less hospitable. And International Women’s Day is a perfect occasion to say, ‘thank you.’
For it’s the time, talent and treasures provided by community volunteers and donors, many of them women, that develop, grow, and maintain the social services, arts, culture, health care, recreation, and sports that most of us enjoy. While government funding is critical to all of these, the quality of life in Canada, which so many in the world envy, is also heavily supported by philanthropy.
When I’m looking for a shot of inspiration to write something like this piece, I often check out quotes, and I did that again. I read hundreds searching for great quotes either by women philanthropists or about women and philanthropy.
After subtracting Anne Frank and Mother Teresa, and being left with few quotes from women, it occurred to me the lack of quoters is one more way in which women are different when it comes to giving their ‘treasure.’
Yet women are key, more today than ever, in driving philanthropy.
Without women, “Canada’s almost 86,000 charities would simply not function”, according to study released in January by TD Wealth.
The spotlight that’s being shone on women and philanthropy recently results from the “Great Wealth Transfer” that will see $150 billion inherited in Canada by 2026. Young women inherit wealth from their parents and because women tend to live longer than men, they also inherit when their male spouses pass away.
Another factor is that women have entered better paying careers. Whether earned or inherited, the consulting firm, KCI, reported that the wealth controlled by Canadian women will grow from 35 percent in 2016 to almost 48 percent by 2026.
As women have more money, they are also donating more. The same TD study found that “donations claimed by women in annual tax filings increased from $1.5 billion in 2011 to $4.3 billion in 2021 and are projected to reach $5.9 billion by 2030.”
It’s not that women have suddenly discovered philanthropy. Just as women have historically influenced buying decisions for everything from toothpaste to cars, women have for generations been influencing the family’s philanthropy. He may have been the bread winner, but, in many families, he didn’t write the cheque until assured she supported the cause.
RBC Wealth Management research into high net-worth individuals found that top of mind for many young women is “making sure their money is put to good use.” The RBC report aligns with other research that has shown women are also interested in collaborative philanthropy as a means of increasing the impact of their giving.
I’ve had the privilege of speaking with many women donors at all levels of giving. I can’t recall any of them using the word “philanthropist” to describe themselves. They referred to themselves as “mothers” who use giving to model values for their children; “citizens” who feel a responsibility to better our community; or simply ”someone who cares” about children, health, the environment, the power of education or showing another woman a helping hand without judgement.
I never did find that BIG inspirational quote on women and philanthropy. But I do think this simple one from Oprah Winfrey says a lot about women I know who are “philanthropists” in the best sense of that word.
“It’s not about being able to write a check. It’s about being able to touch somebody’s life.”
Happy International Women’s Day.