Half a century ago, when fundraisers would ask families for charitable contributions, it tended to be the men who decided how much to give and to whom the donations should go.
Things have changed.
A decade ago, according to a new study by TD Wealth, women directed $1.5 billion to Canada’s charitable causes. This year, it was $4.5 billion. And, by the end of the decade, TD expects that number to climb to $9.5 billion in annual contributions.
“Women are stewarding more wealth than ever before,” says Jo-Anne Ryan, vice-president of Philanthropic Advisory Services at TD Wealth and the lead on the new report. “Without women giving, the entire charitable sector would collapse.” Ryan made the comments in an interview with Tony Chapman, host of the podcast Chatter That Matters, at a recent symposium in Toronto.
It’s also reasonable to assume that, with men having less of a hammerlock on where donations are directed, different causes, such as breast or ovarian cancer, are getting a bigger share of the dollars raised.
The study says women contribute to charity in different ways. Those who can, often give money. Others give their time and advocacy or bring friends to the mission. There are 86,000 charities in Canada, so the need for their participation is clearly there.
Charitable giving is also becoming more of a family affair. “Kids are hounding us to do bake sales and lemonade stands,” says Beth Wilson, chair of CPA Canada and a former United Way GTA campaign chair. “We’ve gotta set up kids to give as well.”
Wilson learned to be philanthropic by watching her parents, who were both teachers. “My mom sold daffodils for the Cancer Society,” she says. “I saw it at my house. Once that spark gets lit up, to some degree, it never dies. Start with your heart, and follow through with your mind.”
Ryan adds that this philanthropic mission is equally as important for women without children. “For people who don’t have kids, this is the way to help leave a legacy,” she says. “Support the community. Make a difference.”
“Keep others’ needs at the forefront of your mind,” says Wilson.
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