By Megan M. Machnik | Development Manager
Washington Area Women's Foundation recently released a groundbreaking issue brief on women's philanthropy in the Washington region. By combining first-hand experiences of philanthropists with a critical examination of regional and national data through a gender lens, we have found that turning the corner on poverty for women and girls within our region is within our grasp.
"I've experienced personally - and I think studies support this - that if you empower women, you will save the world, so that's why I like to give to women..." -Lorena, Philanthropist in the Washington region
By our estimates, if every woman in our region with a net worth of $5 million or more contributed 0.1% of their wealth to programs tailored to the unique needs of women and girls, they could collectively invest at least $45 million - enough to have a significant impact on helping the nearly half-million women and girls living below or near poverty in our region attain economic security.
"Women never had money to give...Now we have wonderful women who are working hard and doing good jobs and getting paid a lot of money, and they need to know how to give." - Tamicka, Philanthropist in the Washington region
A rough estimation of woman's net worth in the Washington region is over $253 billion. With this vast amount of resources, women have the potential to significantly grow philanthropy. In fact, research shows that women proportionately donate more of their own wealth to benefit communities than men. On average, high net worth women give close to four percent of their total net worth each year, which is twice as much as the two percent men give.
"I'm a big believer in outcomes and results. I'm just a big believer in putting money where things are working best." - Eleanor, Philanthropist in the Washington region
The biggest challenge facing our community is not a lack of strategies to address the needs of the region's most economically vulnerable residents, but a lack of resources. The complexity of poverty is overwhelming, but we have the expertise needed to do something about it, especially if we tap into the incredible giving power of women in our region.
Join us and become a philanthropist with the unprecedented power and potential to change our community!
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