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Patty Stonesifer, Gates Foundation Co-Chair, Profile
Study Reveals Business Women Are Substantial Givers
Arts & Business Council and American Express Announces Arts Marketing Grants
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PHILANTHROPY NEWS DIGEST
A recent study conducted by the National
Foundation for Women Business Owners (NFWBO) finds that successful
women executives and entrepreneurs tend to be generous
and independent philanthropists. Data from the study showed
that 74 percent of business women earned their wealth on
their own and 84 percent made their philanthropic decisions
independently or regardless of their marital status.
The study, funded by Merrill Lynch, surveyed members of
the Committee of 200, an organization comprised of business
women who own companies with revenues over $15 million or
who manage divisions of U.S. corporations that generate a
minimum of $100 million in revenue annually.
Survey respondents reported participation in a wide array
of philanthropic activities. More than half (56 percent) said
educational reform was among the top three causes they
supported; 42 percent mentioned women-related causes;
and 41 percent listed arts-related groups as among their
favorite philanthropies.
"As the NFWBO research has found, business women of
achievement have very clear intentions about how much and
to whom they are giving," said Doris Meister, chairman and
CEO of Merrill Lynch Trust Company.
"The research also has some interesting lessons for
philanthropic organizations," added Meister. "[F]or example,
many of these women say they are put off by the way they
are asked to give."
The survey results were announced November 12 at
"Philanthropy Transformed: The Powerful New Voice of
Women," a Boston conference sponsored by Merrill Lynch
and co-hosted by the Committee of 200 and the Simmons
Graduate School of Management.
FCnote: The Merrill Lynch & Co., Inc. Corporate Giving Program (NY) made grants totaling $18,968,112 in the year ending 12/31/98.
FCnote: The Merrill Lynch & Company Foundation, Inc. (NJ)
had assets of $44,214,372 and made grants totaling $14,609,957 in the fiscal year ending 12/31/98.
"Business Women of Achievement Are Independent
Philanthropists." The National Foundation for Women Business Owners Press Release. 11/12/99
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