Women philanthropists supporting causes for women and girls
July 31, 2012
Famous and wealthy females are taking a special interest in nonprofit organizations and causes that support women and girls, according to a recent New York Times article. The story highlights a group - The Circle - created by Annie Lennox and her associates from the charity, Oxfam. Even though the organization was launched less than a year ago, it has garnered the support of 150 powerful women and raised more than $1.72 million for initiatives that connect wealthy women with those who are impoverished.
The Bank of America Merrill Lynch 2011 Study of High Net Women's Philanthropy revealed women are now the decision makers behind 90 percent of donations from high-income households.
"Charities need to better understand the different motivations that drive high net worth women's philanthropy, their more strategic approach to giving, and their desire for a deeper, more collaborative experience with the organizations they support," said Una Osili, Ph.D., director of research for the Center on Philanthropy at Indiana University.
As this trend continues, organizations that work to support females across the world, and especially those in underserved communities might benefit from nonprofit financial management
solutions, which can make it easier to track funds in specific arenas.