I'm thrilled to offer another insightful post by our one of our blog contributors, Gretchen Horn. This three-part series will take a closer look at the role women play in philanthropy. Check back for all three parts in this informative series.

Jacqui Higgins
NOZA

Women in Philanthropy

by Gretchen Horn
Horn Research Services

Throughout the history of the United States, women have had long-term commitments to bettering their communities and have been philanthropically-minded in many different ways. Even before the idea philanthropy was universally defined, women have been engaged in issues of social concern such as suffrage, education and abolitionism. Over the past 30 years the very idea of women in philanthropy has grown into a dynamic movement whereby women are using pioneering and inventive methods to improve their communities and the communities of the nation and the world. To quote Former UN Secretary General Kofi Annan, "When women are fully involved, the benefits can be seen immediately: families are healthier; they are better fed; their income, savings, and reinvestment go up. And what is true of families is true of communities, and, eventually, the world." Women all over the globe are involved in philanthropy in a varying degree of ways – as donors, as professionals (in a nonprofit setting, in a corporate setting, directing the organization’s charitable activities and in foundations, both private and public), as fundraisers, and as volunteers.

Women are playing a larger and more influential role in the face of philanthropy due to in large part, an increase in their combined net worth as well as the rising number of top wealth holders who are women. The IRS reported in 2005 for 2001 figures that 3.4 million or 46.3% of the nation's top wealth holders were women. This represents a 36% increase from the prior reporting in 1998. Top wealth holders are defined by the IRS as individuals with gross assets in excess of $675,000. These women had a combined net worth of $6.291 trillion, an increase of nearly 50% from statistics reported in 1998.

Additionally, the number of women-owned businesses is on the rise. The Center for Women’s Business Research, a primary source of research on the trends, characteristics, achievements, and challenges of women business owners and their enterprises, estimates that as of 2006, there are about 10.4 million privately-held, 50% or more women-owned firms in the United States, accounting for two in five (40.2%) of all businesses in the country. These firms generate $1.9 trillion in annual sales and employ 12.8 million people nationwide.