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.