Currently
women control more than 54% of the wealth in the United States.
In the next ten years that number will grow through the inheritance
of assets.
Women
own 1/3 of all private businesses.
Women
own almost 50% of stock portfolios with values over $50K.
However,
Less
than 10% of philanthropic dollars goes to causes directly impacting
women and girls.
And 70%
of the world's poor are women and children.
The History of the Lantern League
"Because we know the only way out of poverty is education, we thought that we could do our small part to put our money exactly where it is needed."
-Mary Miller
"Lantern League: Behind the Name"
The name goes back to the history of the Sisters of the Presentation
(the founders of Presentation High School, which is the sponsoring organization
of this circle.) The religious order was founded by a woman named Nano
Nagle. She was a native of Cork, Ireland and came from a very wealthy
family. She became increasingly concerned about the plight of the poor
in her country—especially poor children who were denied education
under the penal laws. She formed a religious order of women dedicated
to the education of children. Because it was illegal during the 18th
century to provide education for Catholic children, she did so in the
cover of night. She was often seen in the streets of Cork carrying a
lantern.
The lantern is an object that casts out light and serves as a beacon
of hope lighting the darkness. Since the proceeds of this circle will
fund programs for women and girls, this seemed an appropriate name for
our group.
"We may not all be individually wealthy, but we hold great wealth in common."
Across the United States, groups of women are initiating and participating
in giving circles—groups of individuals who pool their charitable
gifts to fund projects that improve the quality of life in their communities.
With their collective gifts, these women are major donors, and they are
helping to “grow” women as philanthropists. We may not all
be individually wealthy, but we hold great wealth in common.
Article on Women & Philanthropy published in More Magazine February 2006
