The field of gender lens investing has been on the runway and waiting for take-off for a while now, yet barriers, like the lack of corporations carrying out women-friendly policies and practices, continue to be a problem.
Meanwhile, some funders are right on top of the issue, pushing hard to understand and grow the field of investing with a gender lens. One prime example is the Wallace Global Fund, which provided a grant to the Criterion Institute in the fall of 2014 to create a report that surveyed gender-focused investing. Wallace is a longtime supporter in the arena of women’s empowerment, and also a lead player in the philanthropy divestment movement.
As part of its research on and development of gender lens investing, Criterion held “convergences” — four of them, once a year, in Simsbury, Connecticut. These meetings served as incubators for defining and consolidating the field of gender lens investing. The convergences also helped develop new language for the work, such as seeing gender lens investing as an “opportunity” rather than a “screen,” and shifting from “counting women” to “valuing gender in finance.” And while these changes may sound semantic, they represent much larger shifts to investment theory and approach, which produce significant results.
If you spend time reading about women and philanthropy, you will invariably come across Helen LaKelly Hunt. Along with her sister, Swanee Hunt, these two feminist philanthropists are major players in the women’s funding movement, which hit the big leagues in the past decade as high-net-worth women began to make gifts of over $1 million dollars to fund causes for women and girls.
While researching for her dissertation on the origins of American feminism, Hunt discovered that 19th century women didn’t fund the suffrage movement. Instead, they funded things like their husband’s alma maters, churches (where they had no voice) and the arts. Years later, when women began pledging and making million-dollar gifts to women’s funds, Hunt captured that history in a book called the Trailblazer book, which was circulated to other women donors. This compilation of women’s testimonies helped catalyze the founding of Women Moving Millions.
So this is news that everyone can use, but I particularly thought of philanthropy for women and girls and how they might cash in on the matching funds for Facebook-generated fundraisers on Tuesday. From the press release:
This Giving Tuesday, people are looking for ways to give back and do good. For that reason, we are thrilled to share Facebook’s recent announcement for new tools that will allow everybody to raise money for, or donate to their favorite charities.
Facebook expands its Fundraisers to include 750,000 US nonprofits to donate to:
Everybody can now support causes they care about this holiday season by creating a fundraiser on Facebook! Fundraisers allow supporters to set up a dedicated page to share their story, tell others about a nonprofit’s mission and rally around a fundraising goal – just in time for the season of giving! The over 750,000 US-based registered non-profits which focus on causes like animals, health, education to arts and culture make it easy to do good no matter what you support. The process is easy:
Ten years into her signature philanthropic endeavor, Lumos, author J.K. Rowling has grown increasingly vocal about her disdain for developing world orphanages that do nothing to address the underlying needs of children and families.
Readers here at The Chronicle of Social Change know about the damage that child welfare systems can do to children, but perhaps even more damaging are money-driven orphanage systems, where children can suffer extreme neglect and lifetime attachment issues. And parents, often because of poverty, are deprived of the opportunity to raise their children.
“Globally, poverty is the no. 1 reason that children are institutionalized. Well-intentioned Westerners supporting orphanages perpetuate this highly damaging system and encourage the creation of more institutions as money magnets,” tweeted Rowling in late August, when expressing her fury at a voluntourism charity that was offering young adults the “CV-distinguishing” opportunity to volunteer in an orphanage in Moldova, where they could “play and interact” with children ”in desperate need of affection.”
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.
Here’s some good news this week, in case you need a little cheering up: The Obama administration hosted the first-ever United State of Women Summit in Washington, D.C. With Michelle Obama and Oprah headlining the event, this convergence included many old and new fighters for gender equality including Darren Walker, Gloria Steinem, Matt McGorry and Amy Poehler.
Do you ever wonder what motivates someone to give money? Obviously, the answer is “yes” if you’re a professional fundraiser. But those who give may also wonder what’s really causing them to reach for that checkbook.
Research from the Women’s Philanthropy Institute sheds light on this area, particularly as it pertains to women at every level of society. Now, WPI has released a study showing for the first time that women are motivated by personal experience to give to causes that benefit women and girls specifically.
Sounds like a no-brainer, right? Well, it’s actually significant, useful information. Women’s tendency to donate money to specific causes based on experiences like having a child or discrimination suggests that philanthropy might take off in new directions as women become primary asset-holders in society and further increase their giving.
On January 29th, 2009, a mere nine days after being sworn in as the 44th President of the United States, Barack Obama signed into law the Lilly Ledbetter Fair Pay Act. It was his first piece of legislation as President, and it set the stage for a presidency that has been visibly committed to equal rights for men and women.
Since that historic day over seven years ago, Obama has reauthorized the Violence Against Women Act, signed into law the Affordable Care Act, created the Task Force to Protect Students from Sexual Assault and the White House Council on Women and Girls, issued an executive order that mandated federal contractors to publish pay data according to gender and race in order to combat the wage gap, and this May, the White House will host The United State of Women, a three day summit in Washington DC that will tackle gender inequality across a range of issues, including education, health, leadership, and economic empowerment.
Like many who follow philanthropy, I pay attention to the Rockefellers. No family has done more to shape modern giving over the past century. But what are the Rockefellers doing these days to change the world?
Well, for one thing, as most of us have heard, the Rockefeller Brothers Fund took the major step not long ago of beginning to divest from fossil fuels—a move that received enormous attention given that the family’s wealth is famously derived from Standard Oil. Less well known is that the Rockefeller Family Fund is also divesting.
One member of the Rockefeller clan deeply involved in these issues is Neva Rockefeller Goodwin, a fourth generation Rockefeller who previously served as a trustee and vice chair of the Rockefeller Brothers Fund. She is also President of the Mount Desert Land and Garden Preserve in Maine.