Other News
The Power of Woman in Major Gift Asks
We reported previously on evidence that Irish women control 58% of all spending and influence 89% of all purchases. However, commercial companies often miss the mark as 41% of Irish women say they are misunderstood by marketers, advertisers and brands. We asked was this also the case in the fundraising world. Do women have a greater say on to whom and how much philanthropic monies are being spent? Is this being considered by major-gift fundraisers when making approaches?
Firstly, the motivation of why wealthy women give is different. A recent study at the Indiana University Center on Philanthropy showed that women are far more likely than rich men to make charitable donations as a way to honour the legacy of someone they care about or to serve as an example to young people. About a third of affluent women make donations to burnish someone else’s image, while only 16% of men do, the study found. And more than 43% of women said they give to set an example for young people, but only a quarter of the men said the same.
The researchers found other differences—and some similarities—between the sexes:
- About 65% of the women said they volunteer for the organizations they support; only half of the men did. And 78% of the women said they were motivated to support charities as a way to help their community, compared with 62% of the men.
- The majority of both men and women said they supported the same causes year after year, but men were slightly more loyal than women: 68% said that they did so, while 60% of the women did.
- Large numbers of both groups—60% of women and 56% of men—said their biggest gifts went to provide general operating support. The next biggest recipients were specific programs, with 41% of women saying they earmarked gifts for a specific effort and 35% of men doing so.
But even more interestingly, the study contradicted a “popular belief that men predominantly control philanthropic dollars within a household”. It noted that women are the sole decision maker or an equal partner in giving decisions for three out of four wealthy couples in the survey. The conclusion? Women should be at the table when it comes to key ask decisions. A second study we have seen that supports the power of women in the major-gift decision-making. This has influenced how we approach analysis of donor data and something we are now encouraging fundraisers to be very cognisant of in their ask-approaches.
Elan, UCD and a €3m Gift
A recent edition of the Sunday Times announced that Elan Corporation, the drug company, has donated €3m to UCD to fund the setting up of a high-level academic position, as well as scholarships and a lecture series for seven years. The chair of business of biotechnology is Europe's first and some of the cash will also go to UCD's new science centre.
An obvious positive step for UCD but also for the wider industry in Ireland where corporate donations account for an incredibly small proportion of total giving (estimates range from 1% to 5%). This compares less than favourably with the likes of the US market (ca. 25%) and other more established fundraising markets.
Whether this is a once-off gift or part of a wider trend remians to be seen. If corporations didn't give more in times of great plenty what is the likelihood of more giving across the board in times of difficulty in corporate Ireland? Kudos to Elan (and UCD!), let's hope its a trend-setter for major corporate gifts.
12.12.2011
New Website 07.11.2011
We have been fiddling with it for a while now: new site, new wealth screening video, new insight into our work. Look forward to your feedback; do let us know what you think:
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Major-Gift Fundraising Gets an Injection!
We tweeted about it but thought it more than worty of a post. Last week a mystery donor has turned around the fortunes of Airtricity Division One side Athlone Town with an investment of more than half-a-million euros into the debt-laden club. The investor, who wishes to remain anonymous, has also taken up a position on the club’s board. I am sure the fundraising and management team thought their collective Christmas' had all come at once! An unsolicited 6-figure gift; a willingness to sit on the board and ensure the investment works...an incredible story.
It inspires two thoughts:
1. It is a reminder of the impact that those who have accrued wealth can make on individual organisations and society at large.
2. How much other such donors are hidden in the name-lists of fundraising organisations? Remember: Capacity, affinity, and interest = major-gift potential. How much laden potential and hidden resource is not being tapped into by fundraising organisations?
I quote Fintan O' Toole by saying, "it is merely to suggest that the notion that 'we' are all poor is as much an ideological construction of the bust as the opposite claim was of the boom". Wealth is still out there. But all the old-fundraising adages apply now more than ever: prospects need to be identified first, yes, but need to be engaged; need to see the value in their investments and the assurance that their investments will be handled skilfully and professionally. Loads of food for thought!
12.11.2011
