Note: This blog post originally appeared on Kveller.com.
Women rarely refer to themselves as philanthropists. We tend to think that the term refers only to the uber-wealthy–to people like Bill Gates, Michael Steinhardt, and the Bronfmans (all men!). But that’s not the case.
In fact, a growing body of research on men, women, and charitable giving suggests that women of all ages–especially Baby Boomers and older–are more likely to give to charity and give more than their male counterparts. This is true even though women still earn less than men, on average; live longer and tend to be more risk averse.
Men and women give differently. In 2011, the Women’s Philanthropy Institute at the University of Indiana found that high net worth women are more likely than men to give to organizations that move them emotionally and compel them that their gift can make a difference. At the same time, an organization’s efficient use of resources is an important factor influencing women’s giving. Women are also more likely than men to donate money in addition to volunteering their time. While men tend to support the same organizations year after year, women tend to spread the wealth, so to speak, and support a wider array of causes.
Women not only give more than men, they also tend to focus more on certain causes than men. Female-headed households are significantly more likely than their male counterparts to give to international causes, religious and communal organizations, health care and youth and family groups.
You, too, can become a philanthropist (no matter how big or small the dollar amount of your contributions). The key is to emulate the strategies many women naturally take when it comes to their charitable giving. Here are five tips to help you take charge of your philanthropy:
1. Give with intention and be strategic. Mission statements aren’t only for large private foundations. Take the time to explore your personal values and the causes that are important to you. You can do this alone, with a spouse, or as part of a conversation with multiple generations of your family. Try to come up with three primary giving areas. Doing so will allow you to have a greater impact in the areas that are most important to you. It will also make it easier to say no to the causes that aren’t your focus. And, if you still choose to support your nephew’s latest fundraiser run, you can do so at a lower giving level than you might have when your charitable giving was on autopilot.