Published on Sunday December 18th, 2011
By Andrea M. Meek

 

New research released earlier this week found significant differences in the giving habits and motivations between high net worth women and men, offering non-profits valuable insights into gender and philanthropy.

The study, conducted at the Indiana University Center on Philanthropy and released by Bank of America Merrill Lynch, examined the attitudes and behaviors of 628 men and 283 women with household incomes of at least $200,000 and/or a net worth (excluding the value of their primary residence) of at least $1 million.

Among the findings, wealthy women (78 percent) were more likely to have a strategy for their giving than men (72 percent).

The study also found that nearly 66 percent of the women said they volunteer for the organizations they support, but only 50 percent of the men did. A higher percentage of women (78 percent) than men (63 percent) said they donate money to give back to the community.

However, loyalty to a particular charity was strongest among men. Almost 68 percent of the men said they supported the same organizations and causes every year, while only about 60 percent of women did.

Three of the major motivations for giving were consistent across both men and women. These included:being moved at how a gift can make a difference, giving to an efficient organization and feeling financially secure enough to donate.

The researchers said that the “power and influence of women in philanthropy may mean that some charitable organizations will need to adapt their messaging and strategies to appeal to women's distinct charitable giving behaviors and motivations.”

The 2011 Study of High Net Worth Women's Philanthropy can be found here.