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Women Drive Philanthropic Decisions in Wealthy Households, but Nonprofits Must Work for Their Trust
Source: MarketWatch.com  ·  December 12, 2011  ·  Excerpt

In nearly 90 percent of high net worth households, women are either the sole decision maker or an equal partner in decisions about charitable giving, according to the Bank of America Merrill Lynch 2011 Study of High Net Worth Women's Philanthropy, released today. The power and influence of women in philanthropy may mean that some charitable organizations will need to adapt their messaging and strategies to appeal to women's distinct charitable giving behaviors and motivations.

Key findings of the study include:

-- Women spend more time than men on due diligence before making decisions about giving to a charitable organization.

-- Women expect a deeper level of communication with the organizations they support and place greater importance than men on the efficiency and effectiveness of the organization and hearing about the impact of their gift.

-- Women want to be actively involved with an organization and its mission, with volunteering being among the most important motivations for women to give.

-- Women are more likely than men to stop giving to an organization they had previously supported whereas men tend to support the same causes year after year.

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Our take
Demographic trends are constantly changing - by the day, week, month, year - and seemingly even more frequently. And even more telling, the report cited above only focused on wealthy households, a limited segment of the population, to put it mildly. So what is the best way to monitor the latest fluctuations in giving behavior among your organization's key constituencies? Have a partner that is in tune with your needs and can effectively follow only the data most relevant to you.

Contact us now for assistance answering these and other questions:

  • What are the current trends in giving among the donors most likely to engage with my organization?
  • Once relevant data is collected, what internal processes and strategies should I have for acting upon the information in the most effective way?

 

 
 
       
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