Activate Your Money

CHAPTER 11Maximize Your Philanthropy: Finish with Grants and Concessionary Investing

You don't have to be Melinda Gates or Oprah Winfrey to make a significant difference with your charitable giving. Everyday charity, which comes from passionate and committed individuals giving their time, talent, and money to causes they care about, accounts for more than two-thirds of all donations made in the United States each year.¹ Even though the average annual contribution at the household level is just about $2,500, our combined donations outstrip giving by the mega-billion-dollar foundations and corporations.²

What's more, research by the Women's Philanthropy Institute shows that women, across all categories of age, race, and ethnicity, are more philanthropic than men. We are also interested in collaborative giving and participate this way at much higher rates than men do.³ Women are also becoming major donors.⁴ The growth in our philanthropic power stems from the same trend that has been discussed throughout this book—the simple fact that more and more women have their own money to spend—and give.

However, many of us don't think of ourselves as philanthropists. Rather, we approach our donations in an ad-hoc, unplanned manner. We send money in response to a global crisis, make a grant when a friend asks, or think about our donations toward the end of the year when the big campaigns kick in. This approach is considered charity. Charitable acts tend to be more emotional, immediate responses ...