Category: Civil Society

Growing Women’s Financial Power: Microfinance as a Feminist Strategy

David Gough, CFO and Vice President of Grameen America, spoke with Philanthropy Women about Grameen’s new impact fund, which will make $140 million in loans over the next five years to low income women across the country.

With every day in America bringing news of regressive political changes that will negatively impact women, it’s important for those who want to increase gender equality to explore different strategies for reaching women who need resources. One strategy that recently caught my eye was Grameen America’s announcement that, in celebration of its 10-year anniversary in the U.S., it would enter the fray of impact investing and disburse an added $11 million in capital in microloans to low-income women across the country. With this new fund, over a five-year period, Grameen will make $140 million in loans to low-income women who are struggling to get a foothold in the U.S. economy as entrepreneurs. This is microfinance as a feminist strategy — and it has exciting implications for the future of feminist funding. 

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Funders: Step Up and Help Women Lead America

How would you turn a moment into a movement? That’s the question that organizations that fund women running for office have been asking themselves over the last year. It’s a hard question to answer in any field. Now imagine trying to answer it while being deluged by an unprecedented number of women ready to run for office.

women running for office
Progressive women have pledged to bring #powertothepolls, but not enough funders are putting resources toward organizations doing the groundwork for a more representative democracy.

There are nine national organizations dedicated to training and supporting women running for office. These are long-established organizations like Ignite and Emerge America. In addition, there are newer organizations dedicated to supporting women of color running for office such as Latinas Represent and Higher Heights. Regardless of when they were started or where they focus geographically or demographically, none of these organizations have experienced a moment like this – because, of course, the country has never experienced a moment like this.

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To Aid Gender Equality, Reward Work, Not Wealth

A new report from Oxfam outlines clear steps that governments and the private sector can take to create an economy that works for ordinary people.

A new report from Oxfam takes a hard look at our growing inequality problems, and outlines steps that governments and businesses can take to work toward a more equitable and healthy economy.

Endorsed by several experts in development and labor, the report also has a section devoted to addressing the overlap between “economic and gender inequality” that looks at how the gender wealth gap plays out in women having less land ownership and other assets, and observes that “the neoliberal economic model has made this worse – reductions in public services, cuts to taxes for the richest, and a race to the bottom on wages and labour rights have all hurt women more than men.”

And what are some of the solutions? That was the most interesting part of this report, so am sharing some of my favorites here:

  • Oxfam calls for governments to set targets for income distribution, and gives specific suggestions: “The collective income of the top 10% to be no more than the income of the bottom 40%.”
  • The report calls for ending extreme wealth.  “To end extreme poverty, we must also end extreme wealth. Today’s gilded age is undermining our future. Governments should use regulation and taxation to radically reduce levels of extreme wealth, as well as limit the influence of wealthy individuals and groups over policy making.”
  • Use anti-capitalist business models that “incentivize business models that prioritize fairer returns, including cooperatives and employee participation in company governance and supply chains.”

There are lots of other recommendations I liked, such as pay ratios for keeping down CEO pay, but this was one also deserves particular attention:

  • Use tax to reduce extreme wealth. Prioritize taxes that are disproportionately paid by the very rich, such as wealth, property, inheritance and capital gains taxes. Increase tax rates and collection on high incomes. Introduce a global wealth tax on billionaires, to help finance the SDGs.

What a brilliant idea: financing the SDG’s, particularly SDG 5 for gender equality, with tax money that would end extreme wealth.

It all feels rather unobtainable now, while we are facing one of the most conservative and un-feminist governments ever in America. But it is helpful to read and consider recommendations from reports like this one. Leadership from Oxfam and others advocating for a fairer economy can provide critical guidance on how to make the economy work better for everyone.

Read the full report here. 

Related:

Making the Connection Between Gender Equality and the Environment

Which Countries Fund Gender Equality Most? And Will #1 Keep Its Spot?

Heavy Hitters Collaborate on New Blueprint for Women’s Funds to Lead Social ChangeRead More

Geographical Sums Up Global Gender Quandaries in November Article

Author Mark Rowe discusses the gender equality challenges that we face globally in the November 2017 issue of Geographical.

An article in the November 2017 issue of Geographical, a print publication out of the UK, does an exceptional job of summarizing the current research on gender equality globally. Geographical came to my attention after having the opportunity to talk with staff at Oxfam Great Britain (Oxfam GB), in order to learn more about the way Oxfam has approached integrating gender and development for the past two and a half decades.

The article points to research showing that making gains in gender equality could add as much as $12 trillion to the economy, but also quotes some experts who are dubious about using economic arguments for achieving political gains for women. Dr. Torrun Wimpelmann says that it’s unproductive to argue with social conservatives using this economic data. Another expert, Dr. Jeni Klugman, author of a high level UN report called Leave No-One Behind, says there is room for the economic argument, since it comes at the issue pragmatically.

Nikki van der Gaag, Director of Women’s Rights and Gender Justice at Oxfam GB, is interviewed extensively in the article, and talks about ways that gender can be addressed better by both the business and development worlds. “It’s striking how much the business sector is making the arguments around the case for gender equality and diversity.” But the key point for van der Gaag is that the corporate structures still need to change  — supply chains need to be more gender equal, and advocating for women can’t be a sidebar of the company, but needs to be part of the core  business plan.

That is where the real challenge comes in, particularly in a world where some data suggests that serious backsliding is occurring for women. “The World Economic Forum’s 2016 Gender Gap Report concluded that gender equality has now settled back to 2008 levels,” says the article. So in 2016, according to the Gender Gap Report, we were back to 2008 in terms of gender equality gains. Essentially, we’ve already lost a decade. How much further will Trump and other social conservatives take us back in time?

Read the full article in PDF here.

More about Geographical here.

Related:

Funding Feminism: Unearthing the History of Women’s Philanthropy

Announcing the 2018 Philanthropy Women Leadership Awards

How BRAVA Investments is Taking Gender Lens Investing MainstreamRead More

New Hot Topics: Philanthropy Women’s Top Ten Posts for 2017

2017 was a tremendous year to be writing about gender equality philanthropy. In the wake of Trump’s election in 2016, women in progressive circles rallied their resources for fighting back against the coming regression. Our top ten posts help to recall the many ways that women joined the resistance and continued the fight. At #6, for example, Emily Nielsen Jones delves into the experience of coming together for the Women’s March last January. Meanwhile, at #2, one of the most unusual giving circles in the country celebrates its ability to reach women on the other side of the globe. At #5, we hear from Kimberle Crenshaw, law scholar and fierce advocate for philanthropy to reach out more to women and girls of color.

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Hell No, We Won’t Go! A Guide to Repealing the Trump Tax

trump inequality
Expect to hear a lot more about repealing the tax law here at Philanthropy Women over the coming year. It’s time to pull out all the stops and take back our democracy.

With Christmas over, it’s now time to get down to business and develop a strong agenda for 2018. At the top of that agenda for progressive donors, in my opinion, is repealing the Trump Tax that recently passed. This legislation does more to hurt the middle class and nonprofits than can be tolerated in a society that still prides itself on equality and freedom.

Here are just a few choice details about how this law will deter giving for the middle and upper middle class. The law’s discouragement of itemized deductions by raising the standard deduction for married couples to $24,000, is estimated to reduce the number of itemized tax returns from the current 30% to only 5%. That means only 5% of people will have enough charitable and other deductions to qualify for itemizing their taxes. This change strikes a devastating blow to families in the $70,000 to $200,000 income level, who often stretch their giving in order to qualify for the charitable tax exemption at $12,000. Between the mortgage interest deduction and the charitable deduction, some middle class families would be able to qualify for the $12,000 deduction threshold. By giving an extra two or three thousand or more, they are often supporting nonprofits in the community (their local church, food bank, or domestic violence shelter) getting a tax break, too.

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Rapid Response for Resistance: Emergent Fund to Fight Injustice

emergent fund
The Emergent Fund, a collaboration of Women Donors Network, Solidaire, Threshold Fund, and Democracy Alliance, has published a report detailing their strategy in deploying funds rapidly to address human rights and social justice.

“The Emergent Fund started as a plane built in mid-air. We moved faster than comfort allowed in developing a funding response to the new threats posed by the 2016 election because the scale of the crisis that loomed was so large, multidimensional, and immediate. Resources were urgently needed in many places and without much time for deliberation.” 

So begins Visionary Resistance, a new report reviewing how several donor networks came together to invest $ 1 million rapidly for efforts to protect  those most marginalized and targeted by a Trump presidency. Aptly named the Emergent Fund, this new resource is funded through a partnership between the Women Donors Network, Solidaire, Threshold Foundation, and the Democracy Alliance.

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#MeToo Women Change the Game as Time’s Person of the Year

#metoo
Time Magazine’s Person of the Year are the Silence Breakers: those women (and a few men) who are telling the stories that are changing our culture.

#MeToo women are transforming society on multiple levels.

So much exciting change is happening in women’s philanthropy, but one of the biggest breakthroughs by far has been the overwhelming response to the #MeToo campaign, which helps to break the silence on sexual abuse and harassment. While we all have to measure when and were we choose to tell our stories (and as a therapist I have listened to many accounts, and have helped guide people to make choices about how much they wanted to disclose, and to whom) it is heartening to see so many women willing to take the risk and put their story out there. #Metoo women have truly transformed how we see leadership and how we value boundaries in society.

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To #FundWomen, Join Us on National Philanthropy Day

We all have a unique journey in giving, and now that my journey has landed squarely on feminist philanthropy, I am excited to host a Twitter chat on National Philanthropy Day, to discuss my journey as a giver and to learn about your journey. I believe that by conversing, we can do more than we realize to help each other along the way.

The Twitter Chat will take place on National Philanthropy Day, Wednesday, November 15th, at 11 AM EST it, and will last for one hour. The chat is being hosted by Women Thrive Alliance, one of our spotlight organizations, and will focus on the following:

Topic: The Added Value of Funding Women’s Rights Organizations

Host: @WomenThrive

Discussant: @philanthrowomen

Hashtags: #FundWomen #NationalPhilanthropyDay

Questions:

Q1) Today is National Philanthropy Day. What advice do you have for individuals looking to give today?

Q2) How and why do you opt to fund women’s rights organizations?

Q3) What advice can you give to individuals who want to  fund grassroots organizations?

Q4) Why is philanthropy so important when it comes to women’s rights and gender equality?

Q5) What are some resources that donors can use to educate themselves on investing in women’s rights?

Twitter chat guidelines:

At the beginning of the chat, Women Thrive will ask participants to tweet and say ‘hello.’ Women Thrive will go over how to answer the tweets – i.e. answer Q1 with A1; Q2 with A2 for all tweets corresponding to that question. Women Thrive will then begin by tweeting out the questions. Lastly, please include #FundWomen in all tweets.

Please help us bring in more voices to this conversation by sharing about this is event on Twitter.

Some areas I hope to cover include the growing use of giving circles as a vehicle for grassroots feminist philanthropy, ways to influence the communities around you to analyze their gender data, and ways to use your sweat equity as  a writer, thinker, and amplifier to support feminist philanthropy. I will also be culling from our growing database of article on Philanthropy Women that are calling attention to the past, present, and future of how we #fundwomen.

See you next Wednesday, 11 AM EST, on Twitter!

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Women: Embrace Your Power for Funding Social Change

Allison Fine, author and nonprofit leader, is Vice Chair of NARAL: ProChoice America Foundation.

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, and encourages women to embrace their power in funding social change. 

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.

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