Category: Financial Feminism

Texas Women’s Foundation is 100 Percent Invested in Women

The Texas Women’s Foundation (TWF) recently announced that 100 percent of its $36 million dollars in financial assets are now invested in a “gendered impact” portfolio.

The gender impact strategy seeks a strong return on investment while having the investment itself—and not just the return that accrues to Texas Women’s Foundation—benefit women and girls. This approach makes TWF the first and only women’s fund or foundation to move all of its financial assets—which include endowments, operating investments and donor-advised funds—into gendered impact.

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The Texas Women’s Foundation recently announced the gender-alignment of 100% of its assets. (Image Credit: TWF)

“We hope that we can inspire others to become part of what is now a global movement around impact investing,” says Roslyn Dawson Thompson, Texas Women’s Foundation president and CEO. “Specifically for women’s funds and foundations, we can demonstrate how, by mission-aligning 100% of our assets with our philanthropy, we can powerfully accelerate the change we seek in the world.”

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Empowerment is Now Online: the Hello World Connection

Imagine that you had lived your life up to this point never experiencing the internet. No smart phones, no online recipes, no Google searches or social media.

How much would your life change if, one day, you were connected to the online world?

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Katrin McMillan works with local children on the construction of their Hello Hub. (Photo Credit: Project Hello World)

The potential uses of internet access are abundant: education, job training, medical resources, advancements in farming and agriculture, communication with people across the world, all available at the touch of a button. For many communities, however, that online world is something out of science fiction. Women, children, and entire societies fly under the radar of education and international support simply because they live without access to the world’s information superhighway.

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When Work Resonates with Your Values: Maricella Herrera of Ellevate

Editor’s Note: This interview in our Feminist Giving IRL series features Maricella Herrera, vice president of Operations and Strategy at Ellevate Network, “a community of professional women committed to helping each other succeed.”

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Maricella Herrera (courtesy of Maricella Herrera)

What do you wish you had known when you started out in your profession?

When I first started out, I thought my career was already laid out for me; I was going into my first job at a bank, I would rise in the ranks, get more responsibility, go to business school, go back to finance and keep going until I retired. It was what was expected. I never really understood that to be completely happy, I needed to find something that didn’t just intellectually stimulate me, but that resonated with my values. I didn’t know you could build a career in an area that was about doing good. When I first started out, social enterprises were nascent. Not many people were thinking about them. I wish I had known I could find my passion and what I’m good at in one place, and that it wouldn’t necessarily be what everyone else thought I was supposed to be doing, and that that was ok. My background is in business and finance, so knowing I can use those skills to make a difference in the world is exciting.

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Top 10 Posts of 2019 on Philanthropy Women

Welcome to our roundup of the Top 10 Posts of 2019 on Philanthropy Women.

The Top 10 Posts of 2019 covered a wide range of topics including domestic violence, giving circles, women in finance, and more.
The Legacy of Jennifer Schlecht and the Tragedy of her Loss

Today, we want to believe we are so connected and empowered as women, and yet, Jennifer Schlecht was not connected enough to be protected from the brutal murder of herself and her precious daughter at the hands of her husband. We got many times the average number of page views for this post. Ariel Dougherty did an excellent job of combining resources and analysis in the piece, but the fact that it got so many page views also suggests that this story was vastly under-reported in the mainstream news. While I’m proud to hold up the banner and call attention to this terrible domestic violence tragedy, I also urge other publishers and news outlets to take up the discussion of domestic violence by publishing articles about victims like Jennifer Schlecht, so that we can find more solutions that address violence against women.
At $37 Billion, Did MacKenzie Bezos Get a Fair Divorce Settlement?

This post also got a much higher number of page views than most of our posts. It seemed to hit a nerve, with several commenters dissenting from my opinion that MacKenzie Bezos may have deserved more. It’s an important question that needs further exploration from funders: how to ensure that women are adequately compensated in divorce. The Bezos divorce could have produced billions and billions more for philanthropy, had the financial settlement been a more 50/50 arrangement. In any case, it got people talking, and paying attention to, the philanthropy of MacKenzie Bezos.
L’il Rhody Smashes the Patriarchy, Protecting Roe and Repro Rights. How Did They Do It?

With women’s reproductive rights being stolen away in parts of the country, it was heartening to report on Rhode Island’s successful passage of protections for access to reproductive health care. We hope this article provides a template that other states can consider as they find ways to protect a woman’s right to choose.
We Are Unstoppable: Giving Circles Organize Into a Movement

This piece started out on PW and was later reshared with some changes on Ms. Magazine. It tells the story of how women are finding new ways to fund social change with networks and circles. Since this article was published, the Gates Foundation has invested $2 million more in building the infrastructure for giving circles to continue to expand across the U.S.
Investing in Girls Who Invest

The strategies for moving more women into the finance sector are expanding, and new techniques, such as training women in college to practice investing skills, are gaining more traction. This story was widely viewed, and has a great follow-up in the news this past month, with Coca-Cola’s announcement that it will give $1 million to Girls Who Invest.
Male Domination Prevails: Detailing Media’s Gender Imbalance

The lack of women in media was a major topic this past year, with films including This Changes Everything showcasing the data that proves that women continue to lack employment in and coverage by all forms of media. Laura Dorwart’s piece on The Women’s Media Center’s research and its ongoing fight to call attention to this problem did its job: it got seen by lots of eyeballs, and hopefully added to the momentum to actually do something about this problem.
Women Give More from Less

This piece on Paypal’s research on women’s giving patterns also had a very high page view rate, with lots of shares on social media as well. People are drawn to knowing more about the curious fact that women have less to give, and yet manage to give more than men. Bottom line: more research like this needs to happen, so we can begin to understand the way that gender and philanthropy relate to each other and influence social change.
#WomenFunded2019: Highlights from the First Day

One of the most important conferences this past year was WFN’s September conference in San Francisco. So many amazing leaders attended, and the speakers and workshops provided for a deep and purposeful convergence of women givers and their allies.
Shaping the Shapers: How WMM Trains Women in Social Change

Women Moving Millions continues to show itself as an organization with great passion for moving the needle on gender equality. This interview by our Senior Writer Maggie May with WMM’s new Executive Director, Sarah Haacke Byrd, helps to drill down on how this network is refashioning itself to train a cadre of feminist givers who know the strategies for high impact.
California Gender Justice Funders Launch $10 Mil Culture Change Fund

Another post that saw a high rate of page views was our piece on the Culture Change Fund, spearheaded by the Women’s Foundation of California. This cross-sector collaboration of corporate, private, and public foundations was a story of great interest to our readers, many of whom are working at different levels to build stakeholder alliances for gender equality movements.

We hope you’ve enjoyed the Top 10 Posts of 2019 on Philanthropy Women! Check back next year for our top posts of 2020.

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Family Fdn in Atlanta Gives Big for Global Work Focused on Women

CARE RECEIVES COMMITMENT OF NEARLY $7M FROM THE ARTHUR M. BLANK FAMILY FOUNDATION

The organization dedicated to fighting global poverty by empowering women and girls partners with Atlanta family foundation to invest in communities and save lives

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The Arthur M. Blank Family Foundation outlines these core values for community engagement, and is now extending its grantmaking to address global poverty issues by empowering women. (Image Credit: Blank Foundation press kit)

(Atlanta, GA) On November 14, 2019, CARE announced a three-year $6.8M grant from The Arthur M. Blank Family Foundation to support international programs that foster economic development, influence policy change, and provide humanitarian aid for people affected by natural and man-made disasters. The partnership marks the first strategic international expansion of The Arthur M. Blank Family Foundation’s philanthropic efforts, which promote positive change in peoples’ lives and build and enhance the communities in which they live.

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Coca-Cola Foundation Makes $1 Mil Donation to Girls Who Invest

December 9, 2019 — The Coca-Cola Company is marking its 100th anniversary as a public company today with a $1 million grant to Girls Who Invest from The Coca-Cola Foundation.

Girls Who Invest (GWI) is a non-profit organization dedicated to promoting diversity and inclusion in investment management, with a specific focus on increasing the pipeline of women entering the industry in frontline investing and leadership positions.

See Philanthropy Women’s previous coverage on Girls Who Invest.

Girls Who Invest will receive $1 million in funding from the Coca Cola Foundation. (Image Credit: Girls Who Invest)

The grant will provide scholarships for approximately 40 women at U.S. colleges and universities to explore careers in investment management by participating in rigorous, four-week on-campus training programs at the University of Pennsylvania, the University of Notre Dame or the UCLA Anderson School of Management.

The academic program is followed by a six-week paid internship at one of GWI’s more than 100 partner investment management firms in the United States, Canada and the United Kingdom, during which scholars work alongside investment management teams.

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BIG NEWS: Allison Fine Announces 2020 Congressional Run

2020 is gearing up to be a landmark election year. The American Presidential election is well underway, and new faces and standing politicians alike are finding ways to come together on issues surrounding women’s rights, LGBTQIA+ rights, climate change, and the economy.

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Allison Fine has officially announced her 2020 run for Congress, where she hopes to represent New York’s 17th District. (Photo Credit: Allison Fine For Congress)

Adding to the potential for some great progressive victories in 2020, activist Allison Fine has announced her official run for Congress, where she intends to represent New York’s 17th District, and her hometown of Sleepy Hollow, New York.

A pioneer of online activism and a self-described “unapologetic feminist,” Fine is an author, a social change thought leader, and the founder of the Network of Elected Women (NEW), which connects women who hold local office around the country. She has also served as chair of the national board of NARAL Pro-Choice America Foundation, as well as the president of her synagogue, Temple Beth Abraham.

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Wealth Transfer Coming Up: How How Women Will Shape It

Editor’s Note: The following essay is authored by Jenny Xia and Patrick Schmitt, Co-Founders of Free Will, an award-winning social venture with a mission of supporting world leaders in law, design, and philanthropy. To date, more than $850 million has been committed to nonprofit organizations through Free Will. They discuss implications of the upcoming wealth transfer to women.

In the next two decades, an estimated $30 trillion will be inherited in the US as the large and prosperous Baby Boomer generation passes its wealth on to the next generation. This is the largest wealth transfer in human history, and may be the single greatest opportunity for philanthropy ever.

This demographic wave is beginning to thrust “planned giving”  and “bequests” (giving through wills, trusts, and a few other avenues) from the outskirts of mainstream philanthropy into the spotlight. 

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Investing in Gender Equity with a Better Tax Structure

Here at Philanthropy Women, we are primarily concerned with how gender equality movements are being cultivated through charitable giving. However, we occasionally like to step out of our silo and bring in news about how gender equality can be fostered through our collective distribution systems known as governments.

Which is why, today, we want to talk about Elizabeth Warren’s proposed ‘Wealth Tax’. According to Nancy L. Cohen, author, historian and thought leader on gender and American politics, “Warren’s wealth tax would be a massive investment in gender equity.”

Warren’s proposed tax structure might be the biggest boon yet for gender equality in the U.S. (Photo Credit: Wikimedia Commons)

“Senator Warren’s proposed wealth tax is a massive investment in gender equality – and if enacted, would be a gamechanger for women and girls across the US,” said Cohen, further describing the tax plan as a “bold investments in universal childcare and early education” that would “raise wages for childcare workers” and “unleash the potential of American women – increasing workforce participation and helping to close the gender wage gap.” 

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It’s All About the Divorce Gap: Ending Isolation for Divorcing Women

Edna Gomez-Green of the Fresh Start Women’s Foundation (Photo credit: Fresh Start)

Divorce is often a difficult process, and it disproportionately leaves women struggling with financial challenges. As we covered in regard to MacKenzie Bezos’ settlement, after a divorce, men’s standard of living generally rises by about 33%, while women’s drops by about 20%. Other studies have shown that women’s income after divorce drops by an average of 41%. These stats outline the divorce gap, one of many overlapping economic gaps women continue to face, including the wage, debt, unpaid labor, funding, investing and “pink tax” (consumer pricing) gap.

The Divorce Gap

There are many reasons women can find themselves struggling after a divorce; some stop working to raise kids during marriage and then find it difficult to re-enter the workforce and earn adequately. Others take on full-time caregiving for the first time after a divorce, which can conflict with their career paths and keep them from making enough to support their families. Some women haven’t chosen or been able to invest independently for the future and find themselves without a safety net or backup plan. The other financial gaps all come into play. Women are generally paid less, have more debt, receive less funding, invest less and are charged more for products designed for them. And the unpaid labor gap is significant here; women often take on care giving, housekeeping and other crucial contributions to families and societies that are uncompensated.

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