Things are really coming together for women’s funds and gender lens investing, as this new report details.
The new report is written by Joy Anderson, President and Founder of Criterion Institute, Ms. Foundation President Teresa Younger, and Elizabeth Schaffer, Chief Operating Officer of the Global Fund for Women.
I have not read the report in total yet, but from my first foray in, I am really excited to see how these advanced thinkers and leaders are putting ideas together and finding new synergy for social change and finance. This is powerful stuff!
The report is written using architectural design as an extended metaphor for how to integrate the different sectors of finance, women’s funds, and social change theory. Combining these three components, the report then makes practical suggestions about how to influence issues like domestic violence, the gender wage gap, and climate change.
Given that Walmart is the largest employer in America, second only to the government, the fact that they are taking an active stance in addressing women’s empowerment is particularly important.
We want to make sure Walmart’s grantmaking gets talked about here on Philanthropy Women because they are such a large and influential company, not just in America, but globally. Because of their size, their ability to influence both the economy and the culture is great, and will likely have a growing impact on issues related to women as time goes on.
Rajasvini “Vini” Bhansali spoke to me by phone from Mumbai, India, where she was working and visiting family, the trip to her homeland compelled by a family illness.
“We attract donors and ambassadors that are thinking about local and global connections,” says Bhansali, Executive Director of IDEX (soon to be renamed Thousand Currents). Bhansali notes that 60 percent of IDEX’s budget comes from family foundations, 20 percent from individual donors, and 20 percent from earned income. Last year, IDEX recorded a 45 percent increase in new individual donors, and as it morphs into Thousand Currents, the organization has added staff positions, including a grants coordinator, a community engagement manager, and directors of “donor organizing” and “diaspora partnerships.”
Big News: The NoVo Foundation has narrowed down the scope of its focus for its $90 million in funding to empower girls of color, and the funder is now seeking regional partners to provide support to community agencies doing work for gender equality. NoVo is currently opening up RFP applications for community-based organizations in the U.S. Southeast to get grants for helping girls of color.
This decision was based on the outcome of a year-long listening tour across the country with girls of color, movement leaders, and organizers. During that time, NoVo employed its strategy of getting feedback and solutions directly “defined and driven by girls and women of color” in order to maximize impact for this population.
Ruth Ann Harnisch recently penned a piece for The Tennessean on why she supports The Women’s Fund in Tennessee, seeing them as “the smartest, most efficient way to meet the ever-changing needs of women and girls in this area.”
Women’s funds today are using a range of strategies to build economic security for women and families. By lending capital to women’s small businesses, many women’s funds are helping women build their own financial security — an important step in advancing the frontiers of gender equality.
Investing in financial stability for those on the margins of society, including those who have been traditionally excluded, is central to the mission of many women’s funds, and The Women’s Fund discussed by Harnisch in the article appears to be a prime example of this. The Women’s Fund supports Doors of Hope, for example, which “offers real-life training for women coming out of prison, along with support as they develop skills for living.”
I’ve covered the Fund for Shared Insight before, and I want to call attention to this new announcement, since it’s a great example of how philanthropy is evolving into a more democratic creature — by becoming more aware of what does and does not work in funding strategies.
Many women’s funds and foundations were early believers in incorporating grantee feedback into the grantmaking process. Women’s funds and foundations were also some of the first to bring grantees onto foundation boards to help inform the decision-making process. Some research suggests that women have a leadership edge with their listening and relational skills. Whether that’s true or not, women leaders in philanthropy can and should engage in active listening to create more effective strategies.
Editor’s Note: Betsy McKinney, Founder and CEO of It’s Time Network and author of this post, was recently invited to speak at an event in honor of Women’s History Month at the U.S. State Department. She gave an overview on the need for collective impact infrastructure and initiatives in the women’s sector, and explained the purpose of It’s Time Network and the Network City Program.
Everyone responded vigorously during the presentation when Betsy said that we need a collective impact structure that acts as an AARP for women, and that we can and should fund it ourselves as women over time. People also responded well to the need for shared measurement and the Women’s Well-Being Index. At the end, women from Malaysia, Nepal and Afghanistan asked how they can join the Network City Program. Betsy gave them copies of ITN’s Mayors Guide and they are eager to consider how they can also use the guide and recommendations.
Philanthropists and for-profit investors are increasingly using a gender lens to screen opportunities for funding social change as awareness of the need continues to grow. Funders now take it for granted that empowering women is a linchpin of global advancement. Yet report cards marking the 20th anniversary of the passage of the landmark Beijing Declaration and Platform for Action in 1995—a blueprint created by 189 governments for advancing women’s rights in 12 areas—show that progress toward gender equality has been painfully slow.
The murder of two women joggers in the past week has focused new attention on sexual violence against women. Over the past few years, this issue has been on the agendas of several key sectors of society—including universities, which have grappled with campus sexual assaults; professional sports, where top players have stood accused of attacks; and the military, where rape is common.
Philanthropy is another sector paying attention, with new sources of funding appearing in recent years.
Last year, we mentioned that a documentary on campus sexual assault, The Hunting Ground, had inspired a funding effort that includes resources at NEO Philanthropy, an intermediary that works with both funders and nonprofits. It’s not clear how much money that effort has raised, or what these funds have been used for. What is clear that the film brought major attention to campus sexual assault, an issue that has drawn in other funders, too—most notably the Avon Foundation, as we’ve reported.