They already give with purpose, but they need our help to give with confidence.
At Women Doing Well, a nonprofit dedicated to equipping women to live and give generously, we noticed an important and growing gap in philanthropy: Women are set to become power players as givers and managers of wealth. They’re poised to inherit a significant portion of the $124 trillion that will be passed in the Great Wealth Transfer.
But far too often, women’s voices are absent from the wealth management and philanthropy conversation.
That’s why we spoke directly to Christian women about how they give, why they give, and what support they need. The Women, Wealth & Faith report from Women Doing Well shows that they have a very clear sense of purpose.
They know what God wants them to do with the wealth that they and their families have accrued. They listen when God speaks.
But women do better when they’re together. They need encouragement, connection, and community. They need to hear the stories of women who have given freely, with love and courage. They need to see the example set by women who have embraced a spirit of abundance and generosity, so that they can do the same.
This kind of emotional and personal transformation is almost impossible to do alone, so women need each other. And they need our help to make a real and durable Kingdom impact. What’s more, we need their help if we want a flourishing philanthropic landscape in the years to come.
An important part of supporting women, of course, is understanding them. Our research aims to equip advisers, consultants, friends, and family members with the tools and knowledge they need to better support women as they rise to a new level of philanthropic responsibility.
What motivates generous giving
One of the most striking findings from our research was that women are purposeful, confident givers. They know what is important to them and their families and how they’re called to give. And this sense only strengthens with age. Of the women we interviewed, 90 percent felt strongly or somewhat confident in their purpose or passion.
What’s more, a sense of confidence in one’s purpose was correlated with more giving. And the women we surveyed told us that their sense of purpose comes from their values: nearly all, or 98 percent, of respondents told us their values were important or very important in determining their giving. For 95 percent, this was linked to faith; for 93 percent, gratitude; and for 92 percent, the Bible.
This conviction was often correlated with higher engagement at their churches, which in turn correlated with higher levels of giving.
In other words, women and their families need help translating pre-existing convictions into a giving strategy. They already know who they are, they primarily need encouragement and resultant confidence.
So, the optimal role of the advisers and institutions coming alongside women would be one of shared discovery, collaboration, and empowerment—not pro- or prescription. And this role isn’t optional, if we hope to equip women with the tools and know-how for sustainable, high-impact giving. It’s imperative.
What barriers women face
Women face more than a few challenges when it comes to assuming responsibility for wealth management and giving strategies. Some of these barriers are institutional, but many are personal.
The top three reasons women offered us as barriers to greater giving were uncertainty about how their money would be used, worries about the future, and feeling overwhelmed by fundraising asks. Additionally, nearly half of younger women (under forty-five) reported financial anxiety. This concern declined dramatically with age, with only 28 percent of women over 45 reporting the same sense of worry.
These barriers could, notably, mostly be overcome by cultivating a strong network of professionals and friends dedicated to a shared goal of philanthropic excellence. With greater confidence, greater support, and strong models for proven giving strategies, women could transform themselves and their communities.
How to inspire transformational giving that aligns with women’s values
We found that women with advisers felt consistently better equipped for long-term giving. They felt more confident and better informed and were more likely to have well-developed plans for their philanthropic future.
We know that institutions are an important part of helping women step into this moment. But what role should they play? How can they best support women in optimizing their giving?
The answer to these questions again comes back to discovery and collaboration between institutions and women. Women told us they are most motivated to give by their own personal experiences and relationships, meaning that institutions should focus on cultivating relationships rather than issuing impersonal edicts.
Nearly half of the women we surveyed told us that being personally exposed to needs and being directly involved with nonprofit organizations was what drove their giving. So, if we want to inspire giving that changes the world and aligns with women’s values, we need to help them probe the internal motivations behind their giving—then help them translate that into action and generosity.
Another important component of supporting women’s generosity is explicit development within their churches. Women cited church teachings on generosity about one-third of the time when explaining the root of their giving, and the correlation between greater church involvement and higher giving is quite clear.
This isn’t about dictating to women how to give, when to give, or to whom. It’s about making it abundantly clear to them that their generosity matters. It’s about forging relationships between the most generous women in our communities, churches, and professional networks so that they can inspire and refine one other as givers.
Preparing for, and celebrating, this moment
This is an exciting moment for philanthropy. Women are highly relational, empathetic givers. They are also more generous as a group—and have been for a long time. They have been driving charitable decisions within their families for decades now.
Gaining women as a new majority in the philanthropic community will reap tremendous rewards, provided we prepare for the moment correctly.
So, let’s come together around women. Let’s bring them together. We will all benefit from women doing well.