Female donors

What role will Catholic women play in the future of charitable giving?

by Elizabeth Hansen

Content Editor, Knights of Columbus

For Knights of Columbus Charitable Fund

The financial world is calling it the Great Transition of Wealth, with women projected to control $34 trillion of U.S. wealth by 2030 — nearly double their share in 2023.

When it comes to charitable giving, this is exciting news. Consider the influence women already have when it comes to donating to causes they care about:

Single women outgive single men.

Most married couples make charitable giving decisions jointly, but when one spouse is responsible for those decisions , it is more likely to be the wife than the husband.

Women give a larger percent of their income than men. In fact, a $10,000 increase in a woman’s salary leads to a 5% increase in household giving, while the same salary increase for men leads to a 3% increase in household giving.

When it comes to the broad aspects of charitable giving — which charities to choose, how much to give specific organizations, and an overall budget for giving —

In other words, women are powerhouses of charitable giving. They’re generous, influential and open-handed with their donations. As their share of overall wealth in the U.S. grows, it’s reasonable to expect that women will also profoundly shape the future of charitable giving in our country.

What’s the connection for Catholic women?

It shouldn’t be surprising that giving runs deep in women’s veins.

Whether nurturing our children, tending to our families’ needs, caring for elderly parents, bringing value to our professional work, ministering to others or building community, women draw from a deep well of self-gift beyond monetary sacrifices.

It’s a generosity grounded in relationships and personal experiences. And for women of faith, it’s rooted in what we believe about God — a God who is love and invites us to share that love with others.

Yet this is true, too: Women might often give of our time, talent, treasure and even bodies without counting the cost — but we know the cost is there.

Maybe the Great Transition of Wealth will affect you in five, 10 or 25 years. Maybe you won’t see an impact at all. Regardless, every woman should consider whether her generosity is sustainable — and if not, how can she get it there?

Giving is always an expression of hope. To practice generosity is to know we may never even see the fruit of our gift, but that, God willing, it might still flourish long after we’re gone. The future is out of our hands, but we can be wise and prudent with our planning and the way we sow the seeds of generosity.

Selfless giving doesn’t need to be at odds with intentional, effective giving. And if we’re to be good stewards of limited resources, that should include thoughtful planning as we consider what we can give, where we give it, how it impacts others and whether it can be sustained after we’re gone. It’s the steady work of building a culture — a culture of faithful, intentional generosity.

Building a culture of generosity

You may be married, widowed or single. You might be at the peak of your career, just starting out or well into retirement. Perhaps you’re a full-time caregiver to your children.

What does charitable giving look like for you? Do you budget for it, or does it happen spontaneously?

Are you a regular donor to certain charities? Do you find yourself focusing on a particular cause? If you’re married, who tends to make giving-related decisions?

The first step toward effective giving is taking a clear-eyed look at these questions and more. You can build an intentional plan for charitable giving, regardless of your state of life, budget or experience.

More importantly, your choice to give in the first place already has ripple effects around you. If you have a young family, be mindful of modeling generosity for your children, whether that means conversations about where your family donates, praying for those being assisted, or sharing pictures from organizations’ newsletters or donors’ reports.

If you’re married, how often do you and your spouse talk about budgeting, and when’s the last time you brought up a cause or organization that’s been on your heart? Married or not, have you ever involved friends in your charitable giving, or shared with them why certain causes are important to you?

Finally, have you brought this topic to prayer? Many may assume prayer’s role is to discern what or where God is asking you to give. But consider the other side of the coin as well: if you have a desire to make a difference in a particular area, are you open with the Lord about this longing and asking him to guide your steps?

All of this lays the foundation for a culture of generosity in your home and relationships — and it can start now.

From the stock market to the home, women’s financial influence will only grow in years to come. And when it comes to charitable giving, Catholic women have an opportunity to pave the way and nurture habits of generosity — building legacies that transcend the sums in any account.

Want to learn more about sustainable generosity and building a plan for intentional charitable giving? Download our free resource: A Catholic Woman’s Guide to Faithful Generosity.

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Information provided is educational in nature and is not intended as legal, tax, financial, or other professional advice.Knights of Columbus Charitable Fund does not provide legal, tax, financial, and other professional advice.You should consult professional advisors concerning the legal, tax, or financial consequences of your charitable activities.Tax information provided relates to federal tax matters only, and availability of certain federal tax deductions may depend on whether you itemize deductions.