I am pleased to announce that the Women’s Funding Network has agreed to serve as Philanthropy Women’s fiscal sponsor for our not-for-profit publishing work. This partnership will help us to raise funds to make Philanthropy Women a more potent force for educating the community about how women in philanthropy are driving social change.
The Women’s Funding Network (WFN) grew out of a 1984 joint meeting of the National Black United Fund and the National Committee for Responsive Philanthropy, where participants discussed creating an organization exclusively for women’s funds. By 2000, WFN had grown into a network of 94 member funds and foundations with over $200 million in assets, deploying $30 million a year in grants. In 2003, WFN received a $5 million grant from the W.K. Kellogg Foundation, which enabled significant growth. Today, WFN continues to expand, with over 100 women’s funds and foundations spanning 30 countries, and continues to collaborate with other philanthropic powerhouses like Kellogg, the Gates Foundation, and the Clinton Foundation, to address gender equality globally.
Editor’s Note: It gives me great pleasure to welcome Allison Fine to Philanthropy Women as a guest contributor. Allison is the author of multiple books including Momentum: Igniting Social Change in the Connected Age and The Networked Nonprofit. A former Senior Fellow at Demos, Allison specializes in the intersections of online activism and democracy-building.
Exactly a year ago, millions of women across the country created the Resistance. We have marched and protested, shared our outrage using hashtags such as #metoo, #yessallwomen #nastywomen and called (and called and called) Congress. Now it’s time to shift from powering the Resistance to creating the Renaissance. However, there is one huge barrier, the “final frontier” as philanthropist Ruth Ann Harnisch calls it: our discomfort with money and power.
In case you haven’t noticed, nowadays people get around by Ubering or Lyfting instead of taking a cab or taxi. As these web-based transportation services grow, an exciting collaborations appears to be growing as well, specifically between Take the Lead, the women’s leadership organization steered by longtime feminist leader Gloria Feldt, and the company Lyft. To demonstrate its support of Take the Lead, the growing multi-billion dollar rideshare business is offering discounts on rides in honor of Take the Lead Day on November 14th.
Good news for the women’s philanthropy sector: Sheryl Sandberg has added another $100 million in Facebook stock to a Donor Advised Fund she uses to fund causes she cares about, with much of this new money going to Lean In, the nonprofit named after her best-selling book about how to succeed as a woman in business.
Sandberg represents a new prototype for women’s philanthropy: the young tech executive who sees gender equality philanthropy as a priority. These new funds will help Leanin.org expand its mission of increasing women in leadership.
First, of course, thank you for reading. You are bravely joining me on the sometimes harrowing adventure of learning about gender equality philanthropy. I thank you for joining me on this journey.
Also, thank you to our sponsors, Ruth Ann Harnisch and Emily Nielsen Jones. You have provided an amazing opportunity to advance the knowledge and strategy of progressive women’s philanthropy, and for that you are wholeheartedly thanked.
Thank you, as well, to our writers — Ariel Dougherty, Jill Silos-Rooney, Tim Lehnert, Kathy LeMay, Susan Tacent, Betsy McKinney, and Emily Nielsen Jones. Your work reading, interviewing, thinking, and writing about women’s philanthropy has resulted in my receiving tons of positive correspondence about our content. The internal numbers also validate that we are making an impact.
“We see our members—grass roots organizations—as the experts,” says Emily Bove, Executive Director of the Women Thrive Alliance.
Women Thrive comprises 285 organizations in 53 developing countries. Based in Washington, D.C., Women Thrive supports its member groups in advancing women’s rights globally. “We only work with groups that are engaged in advocacy,” says Bove, citing Women Thrive’s expertise in this area. The other criteria for Women Thrive membership is that the participant organization have female decision-makers at the helm. Given its expansive membership roster and skeleton staff, much of Women Thrive’s work is virtual, including online courses aimed at helping member groups organize around gender and poverty issues.
While Women Thrive prioritizes women’s rights and equal access to education, Bove stresses that all aspects of development are interconnected, and breaking them up into discrete parts is somewhat arbitrary. “Women don’t wake up and say, ‘today my focus is on my child’s education and tomorrow it’s on clean water.’” The goals of women holding political power, controlling their own bodies, receiving fair pay and having access to education are interrelated, and all are key in furthering development.
While estimates are frighteningly low for the percentage of financial assets under management by women and minorities, that number is destined to change. Leading the charge for this change as one of the few women-owned asset management companies is ThirtyNorth Investments, headed by Suzanne Mestayer, Managing Principal, and Blair duQuesnay, Principal and Chief Investment Officer.
How did Mestayer and duQuesnay become gender lens investors? They were basically convinced by the business case for more women in corporate leadership. “It was an interesting confluence of increasing our knowledge on the topic of women in governance, and learning about how few women are on corporate boards,” said Mestayer in a recent interview with Philanthropy Women. “This coincided with our acknowledgement of our own experiences serving on boards, and seeing the benefits of having diversity on those boards.”
One of the things I love about Ellevate Network is the way they are bringing together authority, autonomy, and agency in order to grow gender equality movements. Sallie Krawcheck comes with the authority in finance, she has now launched Ellevate which gives her vision more autonomy, and today Ellevate is taking a big step to increase the agency of gender equality movements by hosting its first-ever summit to mobilize gender equality movements.
From the Summit’s webpage:
Action. Impact. Power.
These words are some of the ones we deal with every day at Ellevate Network. We know women have power (after all we hold trillions of dollars in investable assets, control 86% of consumer spending and are starting businesses at a faster pace than men.) And yet, there is still gender inequality.
Tracy Gary says she starts every day as a “grateful activist.” That’s a good way to approach the morning, and an attitude that infuses the 66-year old Gary’s now 40-year career as philanthropy advisor, non-profit leader, donor and consultant.
A founder of nearly two dozen non-profits, Gary heads Unleashing Generosity and Inspired Legacies, and is on the road 40 days per year working with non-profits, foundations, and donors. That’s down from the 200 days away from home she used to log, but in the last few years she has reduced her workload (which used to run to 60-80 hours per week) and dropped 100 pounds. It’s a matter of staying healthy, and staying on the planet, so that she can continue mentoring the next generation of inheritors and philanthropy professionals.
Since its launch in May of 2016, I have started following Ellevate Network on my Twitter feed, and I am always impressed by the quality of their material on both gender equality and gender lens investing. Now, the new startup that aims to capture the $11 trillion women’s investing market, is holding a conference in June to activate gender equality movements. Sallie Krawcheck, the architect and founder of Ellevest, came to my attention last spring when I was creating a list of 9 Gender Lens Investors to Know About.
Here is my capsule on Krawcheck from that article: