March is Women’s History Month, and it’s a great time to check in on the increasing role of women in philanthropy. At the Wayne County Foundation, we are honored to work with women across multiple generations.
A prime example of women in philanthropy is the Women’s Fund of the Wayne County Foundation. The flexible structure of the Women’s Fund is designed to give credibility to women’s philanthropy and women’s challenges, assure sustainability, maximize community impact and ensure grantee success. The Women’s Fund has given more than $400,000 in grants to causes that support women and girls.
Women’s growing control over wealth is fueling transformative potential to reshape philanthropy. According to research-based analysis published in the Stanford Social Innovation Review, over the next decade, trillions of dollars will transfer to women through inheritance, earnings, and outliving male partners in heterosexual couples.
What’s more, research from Indiana University’s Lilly Family School of Philanthropy, including Women Give 2024: 20 Years of Gender & Giving Trends, supports what many are seeing firsthand: women are increasingly leading charitable decisions within their families. Sometimes this shift happens gradually; a daughter becomes more involved in conversations about family giving, or a spouse who once deferred decisions begins shaping philanthropic priorities more directly. In other cases, the transition is sudden and deeply personal, such as after the death of a spouse or parent, when a woman assumes sole responsibility for stewarding both financial assets and charitable intent.
You’re likely familiar with high-profile examples such as MacKenzie Scott and Melinda Gates. But the trend is much more widespread than just a few big names. Indeed, women often give more generously, more broadly, and more collaboratively than men. Notably, the ways women approach philanthropy differ significantly from men’s, especially with respect to motivations such as empathy, personal priorities, and firsthand involvement.
As women step more fully into philanthropic leadership, thoughtful planning can help ensure that their giving remains impactful and sustainable. Here are three ways the Wayne County Foundation often partners with women and families to implement philanthropic intentions:
Creating a family philanthropy vehicle
A donor advised fund at the Foundation can provide a flexible structure for collaborative giving. Many women choose to involve children or grandchildren as co-advisors, turning grantmaking into an opportunity to share values and learn together about community needs. These funds can be established with tax-efficient assets, such as appreciated stock or other complex assets, helping maximize both impact and stewardship.
Focusing on a cause for the long term
For donors who feel called to support a particular issue, such as education, healthcare, the arts, emergency assistance, or another area of personal significance, a field-of-interest fund can provide both focus and flexibility. For donors age 70 ½ or older, Qualified Charitable Distributions (QCDs) to certain types of funds at the Foundation (excluding donor advised funds) from an IRA may offer an efficient way to support charitable priorities during life. Furthermore, naming a donor advised fund as an IRA beneficiary can extend that support well beyond the donor’s lifetime.
Strengthening a favorite organization
Some women dedicate years of service to a specific nonprofit. In these cases, strategic planning can ensure that commitment endures. Grants can address immediate needs such as staffing or infrastructure, while a designated fund (an eligible recipient of a QCD) can provide dependable annual support for generations to come.
Women’s philanthropy continues to shape our communities in profound ways. Whether leadership transitions happen gradually or through life-changing events, the opportunity to align generosity with long-term purpose is powerful.
As always, the Foundation is here for women and here for everyone. It is our honor to support your philanthropy, helping ensure it reflects both an enduring legacy and evolving purpose. We look forward to our next conversation!