Philanthropy Women

CARE’s Astonishing 900% Return on Investment for Global Women

CARE recently released the 2024 report of its Women’s Economic Justice (WEJ) team. Entitled Her Money Her Future, the report confirmed that women are both good investors and a good investment.

Savings group members in Malawi, part of the Digital CARE Package program
with Mudzi Wathu Village Bank. (Image credit: CARE Report, Her Money, Her Future)

While CARE is famous for its aid programs, outside resources alone will not end global poverty. That will require internal resources created by the people who need the help. Most often women who suffer disproportionately from endemic poverty. Therefore WEJ works directly with women to help them start and run their own business.

The report shows that the results have been spectacular. CARE’s savings groups generated $9 in women’s income for every $1 invested.

Pivotal’s New $250 Million Open Call for Women’s Health Globally

This past year, we saw how the Biden-Harris administration made large new commitments to addressing women’s health, particularly health research on women. Today, another milestone for change in this arena took place as Pivotal, a Melinda French Gates organization, launched Action for Women’s Health, a $250 million global open call that will fund organizations around the world improving women’s mental and physical health.

“To fully exercise power over their lives, women need to be mentally and physically healthy. And yet, women’s health is being neglected everywhere,” said Melinda French Gates. “More than 1 billion women and girls suffer from malnutrition. Reproductive health care is being denied in the U.S. and other countries. And globally, a woman dies in childbirth every two minutes.”

New Initiative Launches to Bolster Support for Local Abortion Funds

The Frontline Repro Freedom Lab (FRFL) has been launched to provide critical funding and resources to abortion funds in neglected states. This new initiative was founded in response to the overturning of Roe being overturned by the US Supreme Court.

The Frontline Repro Freedom Lab has launched. (Image credit: FRFL website)

FRFL announced its first ventures in an exclusive article in The New Republic. This initiative will partner with Arkansas Abortion Support Network, Prairie Abortion Fund and the Wild West Access Fund of Nevada. These three funds provide desperately needed care for five states.

These organizations will receive grants, resources, and first hand practical expertise designed to build the organizational capacity of each group, which will allow them to maximize impact within their respective areas. The goal is to call for a collective effort that will allow more sustainable investment.

The Fearless Fund Has Been Taken Down. Who’s Next?

The Fearless Fund (FF) made the heartbreaking decision to end its grant program for companies owned by Black women. The program has been under attack from right-wing activists who claimed the program was discriminatory.

On June 3, 2024, the 11th Circuit Court ruled that the program was discriminatory and forced FF to suspend its Striver’s Grants program.

Ariana Simone and two young volunteers make the point about the impact of this ruling. (Image Credit: Fearless Fund Twitter Page)

As of September 11, 2024, Fearless Fund has chosen to settle the lawsuit by shutting down that program completely. Given the conservative super-majority on the US Supreme Court, with its record of hostility to Affirmative Action, FF decided that the best path forward was to find other ways to accomplish its mission.

US News Measures Global Gender Equality in Best Countries Report

US News & World Report Provides Important Data on Gender Equality in its Best Countries Rankings

The Best Country report from US News & World Report is in its ninth year. As part of its ranking, the report includes information on a country’s commitment to gender equality.

Denmark is ranked number one on the category of Social Purpose, of which Gender Equality Commitment is one indicator. (Screenshot of US News and World Report)

The results show that international support for gender equality remains strong all across the globe, despite generational gaps. The very good news is that 89% of respondents believe that women should have the same rights as men. Oddly, support for gender equality is stronger among those aged 46 and older, with 94% in favor.

How Trump’s Tax Policies Decreased Philanthropic Giving

According to the National Bureau of Economic Research (NBER) The Tax Cuts and Jobs Act (TCJA), signed into law in 2018 eliminated incentives for charitable giving for about 20% of US taxpayers.

One of the signature moves in the act was to increase the amount of the Standard Deduction to $25,000, which more or less doubled the threshold for itemizing deductions.

Taraji P. Henson has been given the AARP Purpose Prize. Read more below. (Image credit: Boris Lawrence Henson Foundation)

Overall, the reform decreased charitable giving by about $20 billion annually.

While many middle-class taxpayers give to charity such as a church, most are not able to give enough to put them over the threshold for itemizing deductions. In effect, the TCJA eliminated the incentive for making these donations. For middle-class taxpayers, this eliminated the incentive to give money to charity since these donations could no longer be used for itemized deductions from annual income tax payments.

Philanthropy Women and Kiersten Marek Featured in Time Magazine

In case anyone had doubts, Philanthropy Women is one of the world’s leading authorities on feminist giving. Time Magazine recently ran a story on the topic, and one of their major sources for the story was Kiersten Marek and the Philanthropy Women website.

Screenshot from Time Magazine, August 6th, 2024 edition.

The information presented in the opening paragraphs will be familiar to regular readers Philanthropy Women. The article cites both the World Bank and a McKinsey Report that have found that directing grants to women and girls can boost the overall world economy.

In addition, progressive-thinking countries like Sweden, Canada, and France have recently implemented feminist agendas to their giving in order to advance the cause of humanity.

The Day Philanthropy Died: What Happened with Fearless Fund Ruling

As previously reported, the efforts, and perhaps the existence of the Fearless Fund have been the target of a lawsuit since July of 2023. We at Philanthropy Women have been tracking this case as it has significant ramifications for all marginalized populations receiving philanthropy dollars, including gender justice philanthropy.

On June 3, 2024, the U.S. Court of Appeals for the Eleventh Circuit issued a ruling that will prohibit the Fearless Fund from issuing its Strivers Grants. These are grants of $20,000 given to small businesses that have at least one woman of color in a leadership role.

Arian Simone, Co-founder and CEO of the Fearless fund described herself as “outraged” and said the fund is weighing its legal options going forward. They may take the case to the Supreme Court, or they could also take the route of taking the case to another district appellate court.

Cultural Breakthrough? Market for Women’s Art Growing Rapidly

According to Artmarket.com, 2023 was the most dynamic year in the history of the global art market. In the year ending December 31, 2023, over one million works of art in all media were put up for auction.

With three-quarters of a million individual transactions, the number of works sold set a record, an increase of 5% over the previous year.

The Ms. Foundation has added three new board members: Dr. Renée T. White, Mary Kathryn Nagle, and Kathy Ko Chin. Read below about these new leaders stepping up. (Image credit: Ms. Foundation)

Women artists were a key component for this growth. As Artmarket.com explains, they are finally being given the recognition and the place in the market they deserve. In particular, interest in, and appreciation for the women artists of the 20th Century have increased significantly.

Expert Interview on the Fight for Women’s Bodily Autonomy

Vice-President Kamala Harris issued a stinging rebuke to the “hypocrisy” of conservatives in a speech delivered on the anniversary of the overturning of Roe v Wade, in which she pointed out that conservatives continuously seek to restrict access to health care. “How dare they?” she demanded.

Kamala Harris speaks out for women everywhere.(Image credit: ABC News video screenshot)

There are reasons for her charges. The Journal of the American Medical Association (JAMA) recently published a study showing that the number of women aged 18-30 choosing to undergo tubal ligation has increased dramatically since Roe was overturned. The rate of vasectomies has also increased, but only at half the rate of tubal ligations. It appears that, in the age of shrinking space for abortion rights, women are now much more fearful about their own bodily autonomy.