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.
“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.
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.”
As I scour the internet in my never-ending quest to know more about feminist strategies in philanthropy, I don’t often come across union support as a primary strategy. The Ms. Foundation for Women does some work in this area with its support of the Miami Worker’s Center and the Restaurant Opportunity Centers United, but supporting unions like the American Federation of Teachers or National Nurses United does not appear to be a primary focus of most feminist philanthropy strategies.
Eileen R. Heisman, CEO of National Philanthropic Trust (NPT), has a 30 year record of professional achievements in philanthropy, but it all started with being a social worker. I wanted to learn more about Heisman’s early social work origins, and also about how she led NPT from a small nonprofit in 1996 to the $6 billion dollar grantmaking organization it is today, making an indelible imprint on the landscape of modern philanthropy.
When we began our conversation, I asked Heisman to comment on what it felt like to run the country’s largest host organization for Donor Advised Funds. “When I read my own bio, sometimes it feels kind of like an out of body experience,” said Heisman with a chuckle. “But it’s nice to be able to say all those things are true.”
Women are cracking the glass ceiling and making it into top leadership positions amid the #MeToo Movement, according to new research, but the distribution of female replacements varies by geography and social sector.
In an article in the Houston Chronicle, authors Yan Zhang and Yoon Jung Kwon, a professor and Ph.D. student at Rice University Jones Graduate School of Business, argue that the phenomena of women replacing men in leadership roles holds great potential for signaling all sectors of society about changing gender norms. Even in heavily male-dominated sectors like major league men’s sports, a new era is dawning in which women’s leadership will provide a different paradigm.
Recently I interviewed Jean Case for Inside Philanthropy and learned about how her early years as a survivor of hardship helped her prepare for a lifetime of success in business and philanthropy. We also discussed how to maintain a fearless attitude in both business and philanthropy, so that you don’t become afraid of all the risks, hassles and pitfalls that drive a lot of people to drop out of pursuing plans in both spheres.
Toward the end of the interview, I asked Case about her perception of women in philanthropy and how their influence is shifting the landscape:
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.
Recently, I listened in on a call hosted by Catalyst at Large Suzanne Biegel, and author David Bank of Impact Alpha. Guests on the call included Luisamaria Ruiz Carlile of Veris Wealth Partners, which specializes in gender lens investing and research.
The call provided fascinating insights into the world of gender lens investing. Though in its early formative years, gender lens investing is a growing area of financial investment that is destined for big things.
Biegel began the call by giving an overview of both the expanding language and the expanding financial investments in the gender lens investing sector. “Gender lens investing is still small in the relative scheme of things, but it’s so much bigger than it was,” said Biegel. She shared the latest statistics from Project SAGE at the Wharton School of Business Social Impact, which turned up a record 87 funds that are now investing with a gender lens, with 46 of those funds being new creations that occurred between 2017 and 2018.
This is just a quick post before taking a few days off to enjoy time with family and friends. We will be covering several important events in upcoming posts, including a fascinating call on Gender Alpha with Suzanne Biegel and David Bank, where they discussed how “Gender Alpha” is all about identifying the specific dividends that gender lens investing yields. Biegel and Bank are co-producers of November’s Gender-Smart Investing Summit in London. Guests on the call included Luisamaria Ruiz Carlile of Veris Wealth Partners, which specializes in gender lens investing and research.
And one other quick note to acknowledge the significance of the recent elections, where voter turnout was higher than it has been in 104 years. That’s right — the last time voter turnout was as high as it was in 2018 was in 1914, before women even had the right to vote. Now that women and millennials are getting into the driver’s seat with social change, we hope to see even better voter turnout in 2020. I don’t know about you, but I am mighty thankful that people are finally getting the message (it seems!) about the importance of civic engagement. That could mean in 2020 we elect a President that gets us back on track in terms of valuing safety, diversity, and systems change to address inequality.