March is Women’s History Month, and it’s a great time to check in on the increasing role of women in philanthropy. At the Winona Community Foundation, we are honored to work with women across multiple generations, such as:
–A retired executive supporting community foundation initiatives with gifts from an IRA
–A business leader who is building a culture of giving in the workplace
–A young adult who is learning about community impact through a family donor-advised fund at the community foundation established by her parents
And many, many more!
Women’s growing control over wealth is fueling transformative potential to reshape philanthropy. According to research-based analysis published in the Stanford Social Innovation Review, over the next decade, trillions of dollars will transfer to women through inheritance, earnings, and outliving male partners in heterosexual couples.
You’re likely familiar with high-profile examples such as MacKenzie Scott and Melinda Gates. But the trend is much more widespread than just a few big names. Indeed, women often give more generously, more broadly, and more collaboratively than men. Notably, the ways women approach philanthropy differ significantly from men’s, especially with respect to motivations such as empathy, personal priorities, and firsthand involvement.
As women step more fully into philanthropic leadership, thoughtful planning can help ensure that their giving remains impactful and sustainable. Here are three ways we partner with women and families to implement philanthropic intentions:
Creating a family philanthropy vehicle
A donor-advised fund at the community foundation can provide a flexible structure for collaborative giving. Many women choose to involve children or grandchildren as co-advisors, turning grantmaking into an opportunity to share values and learn together about community needs. These funds can be established with tax-efficient assets—such as appreciated stock or other complex assets—helping maximize both impact and stewardship.
Focusing on a cause for the long term
For donors who feel called to support a particular issue—education, healthcare, the arts, emergency assistance, or another area of personal significance—a field-of-interest fund can provide both focus and flexibility. For donors age 70 ½ or older, Qualified Charitable Distributions (QCDs) to certain types of funds at the community foundation (excluding donor-advised funds) from an IRA may offer an efficient way to support charitable priorities during life. Furthermore, naming a donor-advised fund as an IRA beneficiary can extend that support well beyond the donor’s lifetime.
Strengthening a favorite organization
Some women dedicate years of service to a specific nonprofit. In these cases, strategic planning can ensure that commitment endures. Grants can address immediate needs such as staffing or infrastructure, while a designated fund (an eligible recipient of a QCD) can provide dependable annual support for generations to come.
Women’s philanthropy continues to shape our communities in profound ways. Whether leadership transitions happen gradually or through life-changing events, the opportunity to align generosity with long-term purpose is powerful.
As always, the community foundation is here for women and here for everyone. It is our honor to support your philanthropy. We look forward to our next conversation!
The Winona Community Foundation offers a range of charitable options and funds for individuals, families, businesses, and nonprofits to accomplish their philanthropic goals. As your trusted partner, resource, and steward for community philanthropy, the Winona Community Foundation is committed to helping every individual give back in a way that is both meaningful to them and the causes they care about. Contact us to learn more.
