Despite overwhelming evidence of women's growing presence in philanthropy, few organizations are actively working to cultivate female donors. Nonprofits that fail to do so are losing out on significant potential revenue.
The stakes are high, as Virginia Merkel, an Indianapolis philanthropist and volunteer fundraiser for the American Red Cross, told The Chronicle last year: "If you don’t engage those women, somebody else is going to take their money.”
To increase contributions from women, nonprofits must adopt a thoughtful strategy that recognizes that women increasingly are the main drivers of household giving decisions, and that their giving methods differ from those of men.
Women give based on personal experience. They need regular communication from the organizations to which they give. They also want to know the impact of their gifts and, above all, women want to develop a relationship with your organization over time.
Strategies that give woman an opportunity to identify personal passions, empower them to pursue those passions, and allow them to see the impact of their gifts are key for developing enduring and valuable relationships. In short, you must understand the needs of female donors and offer opportunities for meaningful involvement in your work.