Big donors are still having an impact on philanthropy, despite the sour economy. Over a three-year period, a campaign called Women Moving Millions has raised more than $175 million in $1 million donations to improve the lives of women and girls.
Philanthropists and sisters Swanee Hunt and Helen LaKelly Hunt, together with the Women’s Funding Network, announced that the groundbreaking initiative has commitments from 100 women and men in the United States and around the world for $1 million or more.
The donations will go to support one or more of the 145 members of the Women’s Funding Network, which support women-led solutions to issues from poverty and human security to advancing access to health care and education.
"We are delighted, but not surprised, by the fact that – against the bleak backdrop of the global recession – women have stepped forward to raise the bar on giving to women and girls," said Helen LaKelly Hunt. "They recognize that giving more, not less, is what is needed when we are in the midst of economic crisis."
Hunt described the initiative as "an historic moment in the world of women’s philanthropy."
Christine Grumm, president and CEO of the Women’s Funding Network, said now is a crucial time for investing in causes for women.
"An estimated 80 percent of grants made by women’s foundations flow to women and girls with low or no income. So supporting women is a stimulus for families, communities and ultimately whole nations," Gramm said. "Our work is showing that women-led solutions are the savviest way for donors to propel lasting community and social change."