NewsBits: It’s a Women’s World

from The New York Times:

The Power of the Purse

There are more women controlling more wealth in the U.S. than ever before. (Of those in the wealthiest tier of the country – defined by the I.R.S. as individuals with assets of at least $1.5 million – 43 percent are women.) And unlike the women who preceded them – old-school patrons who gave to the museum and the symphony and their dead husbands’ alma maters – these givers are more likely to use their wealth deliberately and systematically to aid women in need…

In general, women give differently than men. They are less likely to want their names on things and more likely to give as part of drives (large ones, like Women Moving Millions, and smaller ones, like living-room “giving circles”) that include other women. And they tend to spotlight different causes (women’s health, microfinancing of businesses owned by women) and for different reasons. A study of more than 10,000 large donors by the Center on Philanthropy at Indiana University suggests that while men describe their giving as practical – filling in the gaps that government can’t or won’t – women describe theirs as emotional, an obligation to help those with less.