Women Asset Managers: San Francisco Foundation Needs You

The San Francisco Foundation is modeling a higher level of financial integrity as it announces a new $50 million for justice-lens investing, including hiring minority and women financial managers.

When you think of San Francisco, the first thing to come to mind is probably the Golden Gate Bridge, or the picturesque houses lining multi-million-dollar streets. You likely don’t immediately think of the wealth disparity that Silicon Valley brought to the city’s families, or the racial tensions that still crop up in a “dark blue region of a blue state.”

San Francisco faces the same problems that plague any city of its size. But what if that could change?

The San Francisco Foundation recently announced that it is committing $50 million to “investments that are aligned with its mission to building inclusive prosperity and racial equity in and around San Francisco.” In other words, the Foundation is committing 6.3% of its $800 million endowment to investment opportunities that will be good for the city of San Francisco — and they’re looking to invest with women- and minority-owned asset managers.

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MDRC Confirms: Grameen Loans Help Fight Poverty for U.S. Women

A Grameen America borrower with child. (Photo credit: Grameen America)

Micro-loans, in which poor people are provided small loans so that they can jump-start or grow an enterprise, are often associated with least developed countries, but, according to a new study, this model has proved highly effective when applied to poor American women over the last decade.

The Grameen Bank model was pioneered in Bangladesh during the 1970s and 80s, and aimed to reduce poverty through the provision of loans, financial training, and peer support to those unable to access traditional credit mechanisms. It turned out a that small amount of funds enabling the purchase of such basics as tools, seeds, and livestock enabled many to lift themselves out of the most desperate kinds of poverty.

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How’s the Obama Foundation Doing with Building Global Girls Alliance?

The Obamas launched Let Girls Learn during Obama’s presidency, and are now continuing the work through their own foundation’s program, Global Girls Alliance. (Photo Credit: Global Girls Alliance.)

When we last checked in at the newly formed Obama Foundation, the former First Lady Michelle Obama and her husband, President Barack Obama were laying the groundwork for cultivating a new coalition of organizations focused on girls globally.

Through a collaboration with GoFundMe, the Obama Foundation has established the Global Girls Alliance Fund, helping to raise funds for grassroots organizations to make more headway with educating girls. The initiative accepts applications from eligible nonprofits already working to increase educational opportunities for girls.

In October of 2018, Michelle Obama announced the Global Girls Alliance, encouraging the public to help make education a reality for girls worldwide. (photo courtesy of the Obama Foundation)

Now Global Girls Alliance is highlighting a Chicago-based nonprofit named The Women’s Global Education Project and is recognizing the work they are doing both in the field and with a compelling new documentary about female genital mutilation (FGM).

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What is Feminist Foreign Policy? How Can Donors Support More of It?

Sweden’s feminist foreign policy is helping to define key strategies for addressing gender equality worldwide.

In 2014, Sweden made waves by becoming the first country across the globe to adopt an explicitly feminist foreign policy. Drawing both controversy and acclaim, the foreign policy was the first of its kind to focus so pointedly on international gender equality across every level of government. Since Swedish Prime Minister Stefan Lofven was confirmed to a second term on Jan. 18, 2019, activists have called for even more emphasis on continuing the successes of the feminist foreign policy.

But what exactly is a feminist foreign policy? In Sweden’s case, the policy focused on funding initiatives across the three “Rs” in which women tend to be underserved and neglected: resources, representation, and rights. Donors who are interested in promoting gender equality through their efforts and outreach can look to the Swedish model of feminist foreign policy to know where to begin.

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This Gender Lens Expert Sees Big Potential for DAF Giving Circles

Katherine Pease, Managing Director and Head of Impact Strategies for Cornerstone Capital, shares her expertise on the growing use of Donor Advised Funds by women’s funds and giving circles.

“There’s a time and place just for grants, and there’s a time and place for gender lens investing, but if you can find that sweet spot where they come together, that’s what gets me going,” says Katherine Pease, Managing Director and Head of Impact Strategies for Cornerstone Capital.

For Pease, the two strategies of gender lens grantmaking and gender lens investing can play a complementary role, particularly when using the Donor Advised Fund (DAF) as an investment vehicle. For women’s funds and foundations, Pease sees an expanding use of DAFs to create new ways to reach women at all levels of society with resources to grow their power.

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How This Investment Advisor Wants to Build Financial Power for Women

Linda Davis Taylor, CEO of Clifford Swan Investment Counselors, shares her vision of the growing influence of women in philanthropy and finance.

If there’s one thing Linda Davis Taylor thinks there’s too much of, it’s women taking concessions in salary negotiations. As the CEO and Chairman of Clifford Swan Investment Counselors, Taylor is calling on all women to create a culture where women ask for what they deserve at their jobs.

“I still hear so many women say they don’t know how to negotiate their salary, even women in top leadership positions,” said Taylor, in a recent interview with Philanthropy Women. She wants to see women get much more comfortable with having those difficult conversations that ensure equal pay and benefits for work at all levels and in all industries. She also wants to find more ways to ensure that “we start early enough in encouraging women to understand their role in salary negotiation.”

To that end, Taylor recently created a new tool for young women, to help them plan early for a healthy financial life. It’s called How to Build You Financial Power and Take Your Seat at the Table and it offers young women actionable, realistic advice on becoming aware of their money challenges and getting a plan early in life to grow their assets and invest in ways that align with both their long-term financial stability and their core personal values. Taylor sees tremendous potential for young women today to “harness the power of their money in order to shape the world around them.”

Taylor comes from a robust background in women’s education. For part of her career in financial management, she served as Chief Advancement Officer and later Chair of the Board of Trustees for Scripps College, a four-year private women’s college in Claremont, California. “Scripps introduced me to thousands of amazing women,” said Taylor. “My work centered on philanthropy and financial support of the women’s college, but it opened my eyes to so many issues and barriers that women face.”

Taylor saw many women in philanthropic families who “didn’t have an understanding of the financial system as they might, and didn’t feel entitled all the time to make aspirational gifts to their school even if the family had the wealth.” Women’s tendencies to put their own needs last, or at least several notches down on the list, resulted in women not making the same kinds of pledges to their alma maters as men.

But for women today, that is changing. Referencing the research from the Women’s Philanthropy Institute on the growing influence of women in philanthropy, Taylor is seizing the opportunity and providing more services that catalyze women’s impact.  “Women are more often being given the responsibilities, whether we are ready or not, to take on financial roles in our families. Taylor sees her approach as two-pronged, growing both the “competence and the confidence” that women need to become stronger agents of change with their money.

Taylor’s online guide for young women emphasizes embracing student loans as a reality that must be addressed in the financial plan, and uses language like “financial boundaries” to help young women figure out where to put their money, and how to begin saving early and often.

Taylor’s background for creating the guide includes her work establishing a program at Scripps College in financial literacy, helping young women figure out how to get off to a strong financial start after finishing their degree. “This message needs to be expanded throughout women’s lives, but we need to make sure that we start as early as we can to build in those tools. It’s more challenging for women today because they have student debt and may be working in a job that doesn’t make much money at first,” said Taylor.

As women advance in their careers, Taylor sees many who want to get into gender lens investing with their assets. “It’s all connected right now, there’s this global change with more women being active and involved and vocal, and then they’re recognizing there are so many things they want to directly impact, whether it’s with their job or with their giving.”

But for Taylor, it all starts with a woman developing good financial skills early in life. “To be effective as a donor to any organization you want to support, you first have to develop your own financial habits.” With her work with families, Taylor sees an integral part of that work as raising awareness around the issue of women’s financial empowerment. “We try to take a holistic view when we work with a family. We try to help a family be really clear about their value system and their purpose. Women in particular seem to resonate with that.”

Taylor sees multiple benefits to this approach, helping to connect the family and build trust. She often meets with family members as a group and asks them what it means to be part of their family. “That simple question is a tremendous ice-breaker. Everybody has an answer.” From there, Taylor says the conversation often naturally moves toward discussing values and charitable goals. “Those can be tremendous financial education opportunities with families.”

By focusing on financial empowerment of women, Taylor sees more movement for women to influence social change. “Chances are, they are going to be working longer, living longer, inheriting more wealth, so the power will be moving in that direction.”

More about Linda Davis Taylor here.

Linda Davis Taylor is the CEO and chairman of Clifford Swan Investment Counselors in Pasadena, California, and a champion for women’s economic independence and strength. She is a frequent speaker on wealth transition, family governance, and philanthropy, and author of The Business of Family.

All opinions expressed by Linda Davis Taylor are solely her opinions and do not necessarily reflect those of Clifford Swan Investment Counselors. You should not treat any opinion expressed by Ms. Taylor as a specific recommendation to make a particular investment. Ms. Taylor’s opinions are based upon information she considers reliable.

Prince Charles Debuts $100 Million Gender Lens Fund for South Asia

Gender Lens Experts: Check Out this Women and Money Summit

Jean Case Explores Fearlessness in Business and Philanthropy

Vision and Decision-Making: Straight Talk from a DAF Giving Expert

 

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Prince Charles Debuts $100 Million Gender Lens Fund for South Asia

Prince Charles announced the launch of a new $100 million fund to support women and girls in South Asia at Buckingham Palace. (Photo courtesy Clarendon House)

The Prince of Wales, Prince Charles, announced this week the launch of a new $100 million fund that aims to reach half a million women and girls in South Asia with education and professional opportunities in five years.

“The sustainable development goals endorsed by 193 member states at the United Nations cannot be achieved unless radical new approaches are developed,” said Prince Charles, upon unveiling the new fund. “I am very proud that the British Asian Trust is at the forefront of developing such innovations.”

British Asian Trust (BAT) will act as the investment banker for this project, raising capital and implementing the project, and will seek funding for new project from the big bank foundations for the initial risk investment. Added funding will be sought from national governments and other big donors.

The British Asian Trust was founded in 2007 at the suggestion of Prince Charles and is one of the Prince’s 20 charities.  For this $100 million investment in women and girls, BAT’s plan is to combine venture capital funding with options contracts that are paid when certain social goals of investment are made.

This “pay for success” type funding innovation has become increasingly popular, as investors look for ways to get a return on their money and also fulfill corporate social responsibility targets.

Prince Charles’ announcement of the new activity for BAT comes at a time when donors are increasingly recognizing the value of both a social and financial return on their investments. Women donors, in particular, may want to be alerted to this new venture impacting the lives of women and girls in South Asia.

Prince Charles referred to the new project as BAT’s “most ambitious to date.” As gender lens investing and gender lens grantmaking continue to evolve, we expect to see much more activity like this announcement from the Prince of Wales.

More on the announcement here. 

Related:

Gender Lens Experts: Check Out this Women and Money Summit

How BRAVA Investments is Taking Gender Lens Investing Mainstream

Introducing the Philanthropy Women Funding Guides

Supporting Women-Led Enterprises in South East Asia: Root Capital Partners with Australian Government

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Women Leaders Convening to Build Election Power in Dallas

ReflectUS is a bipartisan coalition of leaders working to get more women elected to public office.

One of the largest public women’s foundations in the country is hosting a convening of leaders in Dallas to address the lack of gender equality in local government.

The Texas Women’s Foundation will host 60 women leaders from diverse backgrounds to work on getting more women elected to public office in Dallas County. On February 6, these leaders will come from many organizations we have talked about here at Philanthropy Women, including IGNITE, Vote Run Lead, and She Should Run.

All of these organizations are part of a larger network called ReflectUS.  Reflect.US is a nonpartisan coalition of seven leading women’s organizations: Represent Women, She Should Run, Empowered Women, Women’s Public Leadership Network, IGNITE, Vote Run Lead and Latinas Represent.

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Gender Lens Experts: Check Out this Women and Money Summit

Leaders in gender lens grantmaking and gender lens investing are convening in Austin, Texas on September 16 to 17, 2019.

For the past several years, there has been a growing synergy between gender lens investing and gender lens grantmaking.  The latest example: an upcoming gathering in Austin, Texas, that will explore ways to get more women “in the game” of both investing and donating for gender equality.

Leaders in gender lens advocacy, Tuti Scott and Tracy Gray, are facilitating this convening in Austin, Texas from September 16-17, in order to figure out what it will take to get more women aligned with donating, investing, and taking action for gender equality in all segments of society.

Women & Money: Making Money Moves that Matter is bringing together women leaders to engage in strategic talks about how to accelerate progress for gender equality across finance and investing as well as social policy.

More from the event’s web page:

We are convening bold, unapologetic leaders who want to move beyond information sharing in the gender lens investing space to put new knowledge and tools to good use. Together, we are sparking new conversations, listening to each other deeply, and getting to work so that women can activate their capital as impact investors and social justice givers.

If you are curious about investing with a gender lens and/or have questions about how this brings about social, political, and economic change, join us! If you already know which new money moves you want to make personally or in your organization, but want a stronger community of leaders and financial advisors to help guide your actions, join us!

Among the leaders on the Advisory Committee for this event are several women frequently discussed here at Philanthropy Women including Andrea Pactor of the Women’s Philanthropy Institute, Donna Hall of the Women Donors Network, Suzanne Biegel of Impact Alpha, and Cynthia Nimmo of the Women’s Funding Network.

Learn more about the gathering and register here. 

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Take the Lead Delves into Gender Parity in Journalism

Guests on tomorrow evening’s Virtual Happy Hour with Gloria Feldt include Reshma Gopaldas, Mira Lowe, and Amy Emmerich.

Tomorrow evening’s Take the Lead Virtual Happy Hour will feature an exciting group of women talking about one of my favorite topics: journalism. Tomorrow’s event is called The Real Story: Women in Journalism Finding Fair Solutions.

The web call will discuss ways to promote change that will make for more equal representation and pay of women journalists.  Given that Philanthropy Women is a journalism endeavor, I am planning to be on that call to see what I can learn for my work, and to discuss philanthropy’s current and future impact on these issues.

Here is more information about what is happening tomorrow night at 6:30 ET:

The Real Story: Women in Journalism Find Fair Solutions

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