How affluent women are redefining philanthropy

Women are becoming one of the most influential forces in philanthropy. What matters most right now isn’t necessarily how much they give. But rather how they decide where to give and what they expect from the organizations they support.

A new study from HSBC shows that affluent women across generations are prioritizing causes that feel personal, local, and connected to real outcomes. For advancement leaders, this shift carries clear implications for how we build trust, communicate impact, and develop long-term donor relationships.

Below, I unpack the most important findings from The Giving Shift and connect them to what EAB research tells us about how women are shaping the future of higher education philanthropy.

1. Giving Is Personal, Not Performative

For years, philanthropy headlines have focused on large gifts, naming opportunities, and global initiatives. But for many affluent women today, giving looks more personal and local.

According to HSBC’s study, 60% of affluent women say charitable giving is extremely or very important to them. Yet their priorities are centered on causes where impact feels close to home. The most common areas of support include:

• Family (41%)
• Human services (36%)
• Health and medical causes (30%)

Younger women, particularly Gen Z and Millennials, place even greater importance on giving and are more likely to support education, civil rights, mutual aid, and community spaces.

As Mika Brzezinski notes in the report, women are “turning giving inward, to their families and communities, giving with their hearts and their heads, where impact is real and personal.”

This focus on local, tangible impact aligns closely with what EAB sees across institutions. Women donors are directing their giving toward causes that address immediate needs and create visible change. The shift is not just away from prestige, but toward impact women can see and feel in real lives.

2. Younger Women Are More Confident, and They Give Differently

One of the most surprising findings in the HSBC study is who feels most confident about their financial future. Confidence in meeting 10-year wealth goals is highest among:

• Gen Z women (61%)
• Millennials (53%)
• Black affluent women (69%)
• Hispanic affluent women (62%)

White affluent women report significantly lower confidence, at 47%.

This matters because confidence often predicts philanthropic behavior, particularly leadership and major giving. It also challenges a common assumption in advancement that younger donors or racially diverse women aren’t yet ready for leadership-level engagement.

EAB’s research shows that leadership donor pipelines are built a decade or more before a first major gift. When institutions engage younger women early, especially through community-driven and values-based opportunities, they accelerate that path. We also see that women are more likely to upgrade when they can clearly see community-level outcomes, and that Gen Z alumni give earlier when messaging emphasizes belonging, wellness, and direct student impact.

The takeaway is simple: advancement teams should stop waiting. Many of the women shaping the next generation of philanthropy are already confident, engaged, and looking for meaningful ways to lead.

3. Stability, Security, and Financial Independence Shape Giving

HSBC’s findings reinforce that philanthropy is closely tied to women’s financial lives, not separate from them. Women with $100K or more in investable assets consistently prioritize affording their current lifestyle, achieving financial independence, and increasing their net worth. Only after those goals are met do legacy planning and family support rise to the top.

This context directly shapes how women give. The study shows that many women treat philanthropy with the same intentionality as investing, aligning their giving with personal values, long-term goals, and financial confidence.

EAB’s research on donor behavior echoes this pattern. Women are more likely to increase their giving when they feel financially secure and when institutions demonstrate long-term reliability, transparency, and clear direction. Trust in an institution’s stability plays a key role in giving decisions.

For many women, philanthropy is part of a holistic financial plan, not an impulse decision or a one-time transaction.

4. Authenticity Matters More Than Prestige

As women become more intentional about where they give, they are also becoming more selective about who they give to. One of the clearest signals from both the HSBC study and EAB research is that women are holding institutions to higher standards.

When women lead in philanthropy, authenticity matters more than prestige. As Brzezinski explains, giving today is less about galas or nameplates and more about funding scholarships, supporting entrepreneurs, and sustaining local causes. That shift changes how institutions must communicate their value.

For women donors, authentic giving is grounded in:

• Real stories
• Evidence of impact
• Tangible outcomes
• Alignment with personal values
• Investment in equity and community needs

We see this play out clearly with our Advancement Marketing Services partners. Women donors respond strongly to transparent reporting, student-centered storytelling, and consistent stewardship. When institutions clearly show how gifts are used and who they help, women are more likely to give again and to deepen their commitment over time.

Women are redefining what generosity looks like. They give with intention, confidence, and a clear focus on causes that feel personal, not performative.

For advancement leaders, the opportunity is clear: build strategies that reflect how women give today—with purpose, transparency, and a deep commitment to community impact.

Jenny Jones

Principal, Advancement Marketing Services

Read Bio

• Jenny Jones's LinkedIn page