December 13, 2011 | 12:08 PM
A new study released by BoA Merrill Lynch reports wealthy women are much more likely than rich men to make charitable donations as a way to influence young people or to honor the legacy of a loved one.
Why Women? The microfinance industry knows this connection quite well. The industry focuses on funding poor female entrepreneurs, and wealthy female entrepreneurs comprise a major support base. The impact of a dollar earned by a woman can be greater on the household than that earned by a man.
Organizations such as Women’s World Banking (WWB) and Women Advocating Microfinance (WAM) occupy a natural niche because financially successful women relate to and feel compassionate toward budding female entrepreneurs.
Why Give? We all hope to pass on the legacy of building up our business, community, and or family. What better way to memorialize a loved one and pass on a family value than to provide the same opportunity for someone else.
Our hope—under your Christmas tree, in addition to the new sweaters, jewelry, video games, is a Gift that Gives Back—the gift of a microloan for a promising female entrepreneur.