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Women’s funds have become a force in
Connecticut philanthropy. Since 1993, ten such funds have been
started. Eight of these are supported by community foundations,
one is supported by a Jewish foundation, and one is a free
standing 501(c) (3). All focus on engaging women donors for the
benefit of women and girls programs in their respective
communities. These funds not only gather philanthropic dollars
to be distributed to improve the community, but also involve
donors by including them in decision making around focus areas
for the funds and in evaluation of the grant requests.
A five-year comparison of the funds
shows that:
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Assets of the funds are five
times those of 2002, having increased from $2.9 million to
$14.5 million in 2006.
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Grants have nearly quadrupled
from $150,000 in 2002 to more than $576,000 in 2006.
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The number of founding members
and donors nearly quadrupled from a reported 1,200 in 2002
to more than 4,300 members and donors in 2006.
Other key facts:
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Funds range from having no
minimum gift, to requiring a minimum donation of $100 (one
fund) or having minimums for specific levels of membership,
such as $1,000 over five years to become a “charter member.”
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Most funds use a decision-making
model that has a grantmaking committee make recommendations
to a board. One fund presents several funding opportunities
to fund members and a majority vote decides which
organizations will be recommended to the board.
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Nearly half the funds have a
specific focus for their giving, under the women/girls
umbrella.
For more information contact:
Carol Schofield, Director of
Communications
cschofield@ctphilanthropy.org
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