SWFL women are harnessing the power of philanthropyFeb 14, 2023 11:42AM ● By David Broadstone
Jeannie Infante Sager was a featured speaker at The Sanibel Captiva Trust Company’s first Wisdom of Women (WOW) event of 2023, held Feb. 8 at Robb & Stucky in Fort Myers. Photo courtesy of The Sanibel Captiva Trust Company.
Recent research shows more women are assuming responsibility for philanthropy and giving in their households, making decisions either independently or jointly nearly 78% of the time.
“Across all ages, races, ethnicities and income levels, women are more likely to give,” said Jeannie Infante Sager, director of the Women's Philanthropy Institute at Indiana University’s Lilly Family School of Philanthropy. “Women give broadly, collectively and holistically.”
That leads to a question – why aren’t more nonprofits reaching out to prospective female donors since women are overwhelmingly playing a role in deciding when, where and how much to give?
Sager was a featured speaker at The Sanibel Captiva Trust Company’s first Wisdom of Women (WOW) event of 2023, held Feb. 8 at Robb & Stucky in Fort Myers. The WOW series highlights topics of interest that transcend through the many phases of a woman’s life, presenting strategies to navigate the world of giving, saving, caregiving and advancement while leaving a personal legacy.
“Philanthropy is about financial giving, but it’s also about giving our time,” noted Megan Marquardt, CFP, CTFA, senior vice president for wealth services at The Sanibel Captiva Trust Company.
Although monetary donations are widely recognized and appreciated, Sager notes that philanthropic-minded women can also give their time, advocacy and expertise to charitable causes by serving on advisory or governing boards, volunteering and championing a cause.
The Sanibel Captiva Trust Company advises women to:
- Develop a comprehensive Giving Plan that outlines philanthropic goals. This document should be updated annually and list charitable causes to support financially, including specific names of organizations, if possible, as well as nonprofits where women volunteer, serve on boards or advocate for the cause. A written plan holds individuals self-accountable.
- Talk to your financial advisor or CPA: Indiana University’s 2021 Women Give study found that only 1.1% of couples discuss giving with a trusted financial professional. There are a multitude of income, legal and tax considerations when issuing donations of any amount.
- Consider personal or emotional connections when giving: Support nonprofits focused on causes that are important to you and specify exactly how you would like the money to be spent. That helps establish a legacy while allowing the nonprofit to carry out your wishes.
The Women’s Philanthropy Institute estimated that individuals, bequests, foundations and corporations gave $484.85 billion to U.S. charities in 2021. Sager notes subtle, but clear, differences along gender lines when it comes to philanthropy.
“Men are happy when they can give; women are happy when they can give more,” Sager said.
Wisdom of Women SeriesSponsored by The Sanibel Captiva Trust Company
Thursday, March 9: Protect your Castle (Handling legal and financial matters after a divorce or loss of a spouse)
Thursday, March 30: Paving the Way (Generational gifting from capturing knowledge to sharing financial resources)
Location: Robb & Stucky, 13170 S. Cleveland Ave. in Fort Myers
RSVP: Frances Steger at [email protected] or 239-472-8300.