Women and Philanthropy: New Power, Shifting Priorities
- Backpack Brigade
- Mar 19
- 3 min read
Since the 1970’s, when activists working for equality for women made it possible for women to take control of their own money, women are increasingly becoming a force in wealth ownership and management. Today, women make up 43% of the top wealth holders in this country[1], controlling assets with a value of $4.6 trillion, and over the next 40 years are expected to inherit 70% of the intergenerational wealth changing hands.[2] As a result, women are emerging as a new power in philanthropy and are using their wealth to make lasting impacts in the world.
We were privileged this week to speak to three women in our community who are committed to local philanthropy. What these conversations highlight is that, as women gain more influence, philanthropy is becoming a collaborative effort within families. Spouses make joint decisions about charitable giving, and children are often consulted or actively involved in the decision-making process. Lauren Schiltz, a Backpack Brigade Board Member, says, “My husband and I share the same goals for how we wish to give back to our community. We also believe it’s an important example to set for our children, so that when they get older, they can carry on those same values.”
Values-based giving is a key theme for female philanthropists, as is personal experience with a particular issue. Andrea Fasullo, a Backpack Brigade volunteer, told us, “I spent my professional career working with children and their families, so my emphasis focuses on organizations that assist disadvantaged children.” And Susan Klastorin, another Backpack Brigade volunteer, notes that her career in education informs her decisions about how and where to give. “I know that hungry children can’t learn,” she said. “Our dollars provide direct food support to children who need it.” Says Schiltz, “My greatest passion has always been helping children and other vulnerable populations. If we can meet their basic needs and help them thrive, we will be setting them up for successful futures—not only for them but for our society as a whole.” These comments point to a giving philosophy that believes charitable goals with a short-term impact can ultimately have positive long-term effects, and organizations that can demonstrate both short- and long-term outcomes are more compelling for female donors.
All three women stressed that they prefer giving to organizations that can demonstrate their impact in tangible ways (such as placing weekend hunger bags directly into the hands of the children who need them the most), and spend the bulk of donations on impact actions, rather than administrative overhead. Fassulo referenced the online site Charity Navigator, which she says helps her “evaluate the fiscal responsibility of an organization and determine what percentage of money raised is devoted to administrative functions rather than fulfilling their core mission.” And Schiltz says, “It’s always rewarding to see how your donation contributes to furthering the organization's mission and making a tangible impact.”
Small organizations seeking to gain support from female philanthropists may be concerned that they aren't large enough or have enough name recognition to attract major donors focused on legacy building. However, female philanthropists are more likely to be focused on the mission, rather than on legacies for themselves or their families. Although all three women we spoke to used their real names with us, many female donors prefer to give anonymously. Schiltz told us that, “You never want a donation to be about you; it should always be about the organization. For that reason, it is sometimes best to give privately. However,” she added, “if there is a cause that needs more support or awareness, giving publicly can be a great way to motivate others around you to contribute.” Fassulo agrees, stating that, “I am not looking for any special recognition as a donor. I do recognize that being more public about my donations may be an opportunity for the organization to attract new donors, but I have always been a very private person so for the most part my donations are anonymous.”
Ultimately, female philanthropists are very focused on values and impacts as they choose which causes and organizations to support. Klastorin summed the philosophy simply: “Helping one life helps to change the world. If each of us helps others, we will all benefit.”
Thank you to Anrea Fassulo, Susan Klastorin, and Lauren Schiltz for participating in this article.
[1] Defined by the IRS as controlling assets of $1.5 million or more
[2] Rockefeller Philanthropy Advisors, Women and Giving, https://www.rockpa.org/guide/women-and-giving/
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