Annual Report

Women’s Funding Network Powering Women-led Solutions

2008 Annual Report

Dear Friends and Colleagues, In 2008, our world’s most pressing problems were compounded by a global economic crisis.

With the failure of major banks and corporations, and the heavy price paid in lost homes and jobs, our faith in mainstream financial institutions has been eroded. We stand at the brink of a new era, one that calls for new systems and new approaches to investment and philanthropy.

Table of Contents Women’s Funds: A Proven Economic Model

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While the traditional investment model was designed to produce profits for a few, often at the expense and exclusion of many, women’s funds have always sought to benefit all by strategic, targeted investments in solutions led by women and girls. We recognize that the leadership of women can ripple out to shape entire communities, and power local and national economies.

We Are the Women’s Funding Network

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Fueling Change

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Women-led Solutions in Action

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Now is the time to bring our proven investment strategy to the forefront. Women’s funds are leading the groundswell to build a new, just and sustainable global economy. Now more than ever, we need you to be part of the solution. We invite you to connect with our international community of activists, donors, thought leaders and change makers. Together, we are uniting money, ideas and actions to create lasting change.

Worldwide Women-led Change

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From the million-dollar donor to the individual activist, YOU are our strength. Please join us.

Financial Power to Accelerate Change

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When Women Lead, Others Follow

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My Membership Brings the World to Me

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2008 Members and Associate Members

I Give to Strengthen My Connection to the World

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2008 Individual Donors

Sustaining Change Starts With Money

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2008 Foundation and Corporate Sponsors

Chris Grumm Ruby Bright CEO & President, Board Chair & Executive Director, Women’s Funding Network Women’s Foundation for a Greater Memphis

The Strength of Our Numbers

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2008 Financials for Women’s Funding Network

Partners in Change 2008–2009 Board of Directors and Staff

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Women’s Funds: A Proven Economic Model “When you give to a women’s fund, you’re really being strategic, because there’s this collective power…it’s not just safety in numbers, it’s power in numbers.

You pool your money with other women, and then you really have a voice.”

— Ambassador Swanee Hunt, donor Leader

A unique approach to achieving lasting change There has never been a better time to demonstrate a radically different financial model, one that has proven its power and stability. Women’s funds have held their ground through difficult times, building on a strong history of investment in social change. As a global movement, this is our chance to bridge the gap created by the outmoded thinking of the past and lead the way to a sustainable future — not only for women and girls, but for everyone.

A critical moment in our global economy The year 2008 will be remembered for the collapse of global corporations and mainstream financial institutions, an unprecedented lending and mortgage crisis, and the loss of millions of jobs and homes. It has been a time of huge turbulence and fear. As a society, we have reached a critical moment, perhaps the most critical of our time. We are all being forced to reevaluate our assumptions. The customary

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model of investment and wealth-building contained fundamental flaws, and it has failed us. As we work to rebuild our economy, the world needs innovators in leadership, finance and philanthropy.

What can Women’s Funds teach the new world economy?

• Incorporate women’s leadership • Put economic power in the hands of solution-builders • Build an equitable, durable global economic system for all.

Funding Women is Smart Economics “No country will ever achieve its full potential if half of its talent pool is stymied or under­represented.”

— Lloyd C. Blankfein, Chairman and CEO, Goldman Sachs, announcing an investment of $100 million to give a business education to 10,000 women in the developing world.

+VALUES + MONEY + KNOWLEDGE IDEAS

What are Women’s Funds?

Women’s funds seek out and invest in womenled organizations and programs that are building solutions in their communities, from breaking the poverty cycle to fighting violence to supporting women in leadership. Women’s funds are working on the greatest challenges of our society, at street level and at policy level, in villages and in boardrooms. They are mobilizing in greater numbers than ever before, connecting the solution-builders to donors and investors.

Women’s funds do things differently Like mutual funds, women’s funds expect a return on their investments. Instead of monetary gain, the return is transformation in the lives of women and girls, and long-term impact on the communities in which they live. Above all, women’s funds understand the exponential power of investing in women’s leadership.

In a time of worldwide economic instability, this investment strategy is not only standing its ground, it is gaining momentum.

Women’s Funds invest in Values: Diversity. Equality. Empowerment.

Social Change.

While traditional investment systems were failing, women’s funds were in the trenches, pushing back the tide of poverty and fighting to close the gap between rich and poor. Here are just two examples of the kind of economic change led by women’s funds: Economic empowerment for the working poor.

Over the last five years, the Canadian Women’s Foundation has helped more than 1,500 women thrive by funding programs that get women back on their feet both financially and personally. In addition to increasing their incomes: • 41% of program participants increased their savings; • 64% increased their financial control and literacy; • 60% reduced or eliminated debt; • 50% increased their household incomes; • 85% expressed increased confidence and a stronger sense of identity; and • more than 30% went on to take on leadership roles in their communities.

=

POWER TO ACCELERATE CHANGE

Debt counseling and non-profit lending for low-income homeowners.

The Washington Area Women’s Foundation provides debt counseling and financial education to help women to shed personal debt, increase savings and build home equity.

They also assist women in becoming new homeowners.

In Florida, The Women’s Fund of Miami–Dade restructures home loans to low-income women to ensure that they can continue to make their mortgage payments during the economic downturn. In 2008, the Fund increased their number of restructured loans by 167 percent from 2007.

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We are the Women’s Funding Network “Women can be agents of change.

Considering them as full economic actors and investing in them is a smart way to help rebuild the economies of the world.”

— Mayra Buvinic, Director, WORLD BANK GENDER AND DEVELOPMENT GROUP

As a global network and a movement for social justice, the Women’s Funding Network accelerates women’s leadership and invests in solving critical social issues – from poverty to global security – by bringing together the financial power, influence and voices of women’s funds.

We are: • 135 women’s funds across six continents, and growing.

• Tens of thousands of donors, community leaders, non-profits and corporations.

• $60 million per year in global investment in women and girls.

• Nearly $500 million invested over the last 20 years.

• $465 million in collective working assets.

A global champion for investment in women We are one of the largest collaborative philan­ thropy networks in the world, unmatched in terms of our size, reach and connections.

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Our members are making powerful investments in every critical area, from eliminating poverty to achieving advances in healthcare, education and human rights. We connect them with the money, training and tools they need to transform their ideas into sustainable change.

More than a membership organization We are a coalition, a movement for social justice and an innovator in philanthropy. We unite ideas, knowledge, money and actions to create social change for women and girls, their families and communities. Leveraging the reach, power and passion of our members, donors and partners, we build lasting solutions.

OUR DIVERSITY IS OUR EDGE Women’s funds embrace and advance diversity across all levels of interaction with communities. Boards of women’s funds strive for cross-class representation, grantees are seen as partners and funds aspire to embed diversity in leadership roles. Women’s funds

Imagine how much passion and power you have as an individual to direct your money toward an issue you care about.

It feels like you could change anything.

are more racially and ethnically diverse, and more reflective of diversity in sexual orientation, than the general population. Championing diversity also goes to the heart of women’s funds’ determination to re-imagine philanthropy as a process all people can participate in to improve society.

Spotlighting the path ahead For more than 30 years, women’s funds have been blazing the trail, investing in values and leading successful, enduring change. Where mainstream financial systems have failed, our system has succeeded and thrived. Now it is time to pave the road, so the world can follow our example. Over the next ten years, we plan to: Grow our membership. Amplify our visibility and impact. Strengthen our collective actions.

Expand our base of allies. Increase our collective assets to $1.5 billion and grow collective grantmaking to $150 million per year. Mentor and support the next generation of leaders.

Change the world.

Then imagine if you combine your passion — and your money — with others around you through a women’s fund, you can change anything in your community.

Now, imagine combining the work your women’s fund does with the power of the Women’s Funding Network — and all the knowledge and expertise of women’s funds around the world. We can change the entire globe.

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Fueling Change How we accelerate the success of women’s funds By sharing best practices, researching trends and fostering strong relationships, The Women’s Funding Network empowers its members to get on the fast track and stay there. Because no two women’s funds are identical, our services aim to meet members’ needs at every stage of progress.

Access. Members can connect to a global network of peers and experts, join collaborative workgroups and obtain expert consulting services at discounted rates. At our Annual Conference, members share knowledge, ignite new ideas and accelerate progress. In 2008, women’s fund leaders learned about key developments in policies, technology and philanthropy. They also met with members of Congress and were inspired by our special guest, Nobel Peace Prize Laureate Wangari Maathai.

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Training. The Network offers professional workshops and coaching in development, fundraising, leadership and many other areas.

Offerings are tailored to enable members to ask questions, share advice and build on best practices that make social change philanthropy more effective.

Tools. Making the Case™, our social change measurement framework, gives members a way to evaluate the social change impact of the grants that they make to nonprofit organizations.

Our full member toolkit of developmental resources also includes Smart Growth™, our organizational assessment methodology to review capacities, assets, progress and challenges.

Support. Members can engage donors in shaping the future of women’s philanthropy through the Network’s donor retreats and other educational opportunities. Executive peer retreats and specialized regional gatherings foster personal and professional growth as well as stronger relationships between peers and donors.

Women-led Solutions in Action “The Women’s Funding Network has been a real factor in our growth and I could never have done as much as I have for our fund without their help. The regional meetings are helpful, and the conferences keep us connected to the worldwide movement of women’s funds.”

— Carol Penick, Executive Director, Women’s Fund of Mississippi

SPURRING COLLABORATION AND FOSTERING LEADERSHIP More than three years after Hurricane Katrina devastated the United States’ Gulf Coast, women’s funds continue to play a crucial role in rebuilding local communities. The Women’s Funding Network, in partnership with the W.K. Kellogg Foundation and the Ms. Foundation, is bringing women’s funds from the southeastern USA and grantee organizations together, and providing training, consultation and resources that have been indispensable to the steady improvement of services and conditions in the Gulf region.

While volunteer groups from all over the U.S. initially responded with emergency funding and assistance after the hurricane, outside support has decreased over time. Sustainable social change takes long-term commitment, the kind of commitment at which women’s funds excel. Network member The Women’s Fund

of Mississippi believes that local leadership is far more powerful in the long term than that of national groups, who may be considered outsiders and meet local resistance.

“Women’s funds are the go-to place to make sure there is safety, strength, health and success for any girl or woman in a community.”

– Tuti Scott,

With support from the Women’s Funding Network, the fund invested in Women in Construction of Biloxi, Mississippi. Their work tackles the gender and racial stereotypes about women in the construction trade, women of color and low-income women.

By actively promoting the participation of women of color in policy decisions, they are developing local leadership, while the women are making their voices heard on immediate issues affecting their families and communities.

Women’s Funding Network Board member

The work of women’s funds in the Gulf illustrates the difference between traditional philanthropy and women’s funds: we fortify local solutions with strategic funding that allows them to flourish and make changes that will last for generations.

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Worldwide Women-led Change This is just a small snapshot of the work women’s funds are carrying out around the world.

EUROPE Mama Cash | The Netherlands Mama Cash is the oldest international women’s fund in the world. They support pioneering, taboo-breaking initiatives – women’s groups that most donors can’t or won’t fund.

For instance in 2008 they funded Meem, the first and only lesbian group in Lebanon, a country where having a gay or lesbian relationship is banned by law and where it is nearly impossible for lesbians to meet in public.

africa African Women’s Development Fund | Africa In 2008, the AWDF disbursed over $3.7 million in grants to 192 women’s groups in 23 African countries and to date has provided over $10 million to 816 women’s rights organizations in 41 African countries.

For 2008, AWDF: • Grew their $15 million endowment campaign with donations from around the world.

• Raised $4 million from the Dutch Ministry of Foreign Affairs (MDG3 Fund) after a rigorous selection process.

• Provided technical assistance to various networks, including the Association for Women’s Rights in Development and the African Development Forum convened by the U.N. and the African Union.

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ASIA HER Fund | China The Women’s Foundation of Hong Kong | China HER Fund and The Women’s Foundation of Hong Kong are redefining philanthropy in the region. HER Fund’s 88 Days Campaign encourages donations of all sizes and uses technology to support Chinese-speaking women in protecting their human rights. The Women’s Foundation of Hong Kong is using groundbreaking research, such as their “Conversations with the Community” report, to influence policies affecting women in their region.

Latin AMERICA Semillas | Mexico

australia & SOUTH Pacific International Women’s Development Agency | Australia Based in Australia, the International Women’s Development Agency (IWDA) is a leading regional funder, supporting 30 projects in 11 countries throughout Oceana. Their work encompasses literacy for women in East Timor, lending programs and small business training in the tsunami-affected areas of Sri Lanka, refugee support on the Thai-Burma border, domestic violence programs in Australia and more.

Semillas is Mexico’s only women’s fund. Over the last 18 years, it has given more than $4.9 million to hundreds of women’s projects. One such project provided training to 1,351 women to raise awareness on labor rights, sexual harassment at work and labor negotiation. As a direct result, Yucatan State passed a law that holds employers accountable for employee negligence and salary discrimination.

North America Washington Area Women’s Foundation | USA In the United States, women’s funds are combating the economic crisis on the frontlines. The Washington Area Women’s Foundation’s Stepping Stones initiative focuses on building the long-term economic security and financial independence of low-income families headed by women.

Since 2005, it has led more than 5,000 women to increase their collective assets by nearly $19.5 million; helped nearly 600 women increase their incomes by $2.3 million through job placements; and assisted 220 women in purchasing homes.

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Financial Power to Accelerate Change “As women, we have to support each other in order to achieve the changes that are required. If one woman wins, we all win. It is important that those of us who have been successful help those that come behind us.”

— Sylvia Sánchez Alcántara, donor to Semillas, a member women’s fund in Mexico

Who are the Donors to Women’s Funds?

“In my family, we grew up with strong messages that you don’t talk about money and you certainly don’t flaunt it, particularly if you are a woman. But this year, I decided to break that taboo. I decided to pledge $1 million to the Women’s Fund of Central Ohio, a cause I believe in deeply, and to make the pledge public in the hope that other women will see themselves in my story and realize they too can make a difference.

— Carol J. Andreae, founding Board Member, Women’s Fund of Central Ohio

Bold individuals.

Visionary foundations.

Forward-thinking companies.

Donors to women’s funds are movers and shakers who take an active role in the direction of their communities. They are not donating to “women’s issues”; they are addressing critical

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human issues such as poverty, education, health care and human rights, through a new form of social investment. They use their financial might to empower the world’s best problem-solvers and change-makers. With every dollar they invest, they are building stronger communities and stronger nations.

“Never doubt that a small group of thoughtful, committed citizens can change the world.

Indeed, it’s the only thing that ever has.”

— Margaret Mead, gender theorist

Women are Moving Millions — and Making History Sparked by two sisters, Ambassador Swanee Hunt and Helen LaKelly Hunt, and their gift of $10 million, a groundbreaking partnership was forged between a group of donor leaders and the Women’s Funding Network. Since 2006, more than 60 donors have joined the revolution, making gifts of $1 million and more to 30

member funds. In taking the leap from charitable giving to strategic philanthropy, each of these bold women is making history. Together, their generosity is changing innumerable lives: • Raising a massive infusion of new capital through cash and planned gifts — $112 million at the end of 2008; • Expanding and strengthening our donor community; and • Bringing the power and potential of women’s funds into the spotlight.

By inspiring individual gifts of $1 million and more to women’s funds, the Women Moving Millions campaign intends to raise more than $150 million, propelling the collective financial assets and grantmaking of women’s funds through the $1 billion mark.

Democratizing Philanthropy In strong alignment with the values of diversity, equality, empowerment and social change, Women’s Funding Network and its members welcome support at all levels. We believe that every man and woman can be a philanthropist, from the million dollar donor to the everyday consumer or online contributor.

We believe that every gift has the ability to empower its donor and inspire our whole movement. By bringing their financial power to our work, our donors join a growing community in which each person has influence and voice.

We are deeply grateful to all the women and men who honor us with their generosity and commit to helping us create a more equitable world.

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When Women Lead, Others Follow “Investing in women and girls ... is about changing the systems and attitudes that discriminate against women and prevent them from fully participating in and benefiting from the economies and societies in which they live.”

— Kemal DerviS, Administrator, United Nations Development Program

SIX Elements of Human Security The collective influence of our network extends beyond the community of women’s funds.

By spearheading positive change in every fundamental area of society, women’s funds are incrementally changing the way the whole world sees and responds to a wide range of critical issues.

Women’s funds make true social change happen by addressing these elements in concert. The Women’s Funding Network works with women’s funds to solve problems in communities by recognizing every element of human security is interrelated. Effective change requires a comprehensive approach, so women’s funds give money to organizations working to support women in each of the six elements needed to form healthy and safe communities.

How Women’s Funds are Advancing Human Security Women’s funds have long created momentum for human rights by promoting and supporting women’s solutions in relation to every facet of human security.

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Spotlighting and solving major problems In the early 1970s, the first women’s funds helped define violence against women as a systemic problem. By funding shelters for survivors of violence and counseling men who perpetrate violence, they changed the way society sees and responds to gender-based violence. Today, women’s funds continue to lead the way in eliminating violence by working to transform the lives of violence survivors as well as strengthen society’s ability to prevent the problem.

opportunities for women. By promoting entrepreneurship, empowering women in assetbuilding and financial literacy, advocating for better jobs and better pay and investing in children, they are creating stable ladders for women and families to climb out of poverty.

APPROACHING CHALLENGES WITH COMPREHENSIVE SOLUTIONS Women’s funds are working on a global scale to improve women’s access to every element of human security through holistic and sustainable approaches.

The Women’s Fund of Rhode Island has invested $15,000 in advocacy training for women involved in Direct Action for Rights and Equality.

The group compelled the city of Providence to enforce a hiring ordinance that provided 232 women with good jobs.

V-Day creates innovative campaigns to educate and change social attitudes towards violence against women. In the last decade, V-Day has raised over $60 million, held events in over 120 countries and in 45 different languages and raised money for over 10,000 beneficiary groups working to end violence against women and girls. In 2008, V-Day’s events benefited over 1,500 organizations around the world working to stop violence.

Women’s funds have also led the way in illuminating the issue of human trafficking.

The Global Fund for Women — based in the U.S. and supporting women’s human rights around the world — is funding organizations in Nicaragua that are working to change legislation that restricts women’s reproductive health and rights. Through Global Fund’s support and strategic partnership, these organizations are educating women on their rights, creating and encouraging mass participation in legal reform. Women are learning how economic security, access to healthcare and education and human rights protection are interconnected, and why the government must ensure all of these rights to improve the lives of women — and communities.

Women’s funds are spearheading new strategies to combat poverty by investing in economic

Since the late 1990s, the Atlanta Women’s Foundation has been bringing attention to the scourge of child-trafficking in its community.

The Foundation and its community coalition worked with local and state lawmakers to create legislation protecting girls’ human rights and increase the penalties for perpetrators of child sexual abuse.

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My Membership Brings the World to Me “The Women’s Funding Network makes me part of a global community. Hearing what other organizations are doing gives me fresh insight and ideas. We are part of a community foundation and I am the only staff person, so this wider network is vital to both my personal development and the evolution of our fund.”

— Melissa Schultz, Women’s Fund of the La Crosse Community Foundation

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In 2008, the Women’s Funding Network welcomed 13 new Partner members and one new Associate member. Our international presence continues to broaden, with 20 percent of our membership now located outside North America.

PARTNER MEMBERS AFRICA African Women’s Development Fund, Ghana Urgent Action Fund- Africa WHEAT Trust, South Africa

ASIA AND OCEANIA Bangladesh Women’s Foundation, Bangladesh HER Fund, Hong Kong International Women’s Development Agency, Australia Mongolian Women’s Fund, Mongolia Nirnaya Indian Women’s Trust, India Tewa, Nepal The Women’s Foundation, Hong Kong Victorian Women’s Benevolent Trust, Australia

WHEN A

WOMAN HAS

ECONOMIC SECURITY,

HER FAMILY HAS ECONOMIC SECURITY. WHEN HER

FAMILY HAS

ECONOMIC SECURITY,

HER

COMMUNITY HAS

ECONOMIC SECURITY.

EUROPE

NORTH AMERICA

Bulgarian Fund for Women, Bulgaria filia.die frauenstiftung, Germany List Family Foundation, United Kingdom Mama Cash, Netherlands Reconstruction Women’s Fund, Serbia Rosa, United Kingdom Slovak-Czech Women’s Fund, Czech Republic and Slovakia Ukrainian Women’s Fund, Ukraine World Young Women’s Christian Association (YWCA), Switzerland Women’s Fund of Georgia, Georgia Women Win, Netherlands

A Fund for Women A Woman’s Work African American Women’s Fund of the Twenty First Century Foundation American Jewish World Service Women’s Empowerment Fund Appalachian Women’s Fund Arizona Foundation for Women Astraea Lesbian Foundation for Justice Atlanta Women’s Foundation Aurora Women and Girls Foundation, Inc. Boston Women’s Fund Bucks County Women’s Fund Canadian Women’s Foundation Channel Foundation Chester County Fund for Women & Girls Chicago Foundation for Women Chrysalis Foundation Women’s Fund of Community Foundation of Greater Chattanooga, Inc. Dallas Women’s Foundation Delta Research and Educational Foundation (DREF) Dobkin Family Foundation The Eileen Fisher Foundation Faith Partnerships, Inc. Fargo-Moorhead Area Foundation Women’s Fund Foundation for Women

LATIN AMERICA Fundo Angela Borba, Brazil Fondo Alquimia, Chile Fondo Centroamericano de Mujeres, Nicaragua

MIDDLE EAST The Dafna Israeli Fund, Israel

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WHEN A WOMAN’S

FUND

SUPPORTS A COMMUNITY’S

ECONOMIC SECURITY, A

NATION

HAS

ECONOMIC SECURITY.

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NORTH AMERICA,

continued

Feminist Majority Foundation Frontera Women’s Foundation Fund for Global Human Rights, Women’s Rights Fund Fund for Women and Girls of the Fairfield Community Foundation Fund for Women and Girls, The Greater Tacoma Community Foundation Fund for Women Artists Global Fund for Women Hadassah Foundation International Indigenous Women’s Forum Iowa Women’s Foundation Jewish Women’s Foundation of Metropolitan Chicago Jewish Women’s Fund of Colorado Kentucky Foundation for Women Linked Foundation Long Island Fund for Women and Girls Maine Women’s Fund Mary’s Pence Michigan Women’s Foundation Ms. Foundation for Women, Inc. Muslim Women’s Fund Nevada Women’s Fund New Mexico Women’s Foundation Nokomis Foundation Shaler Adams Foundation Sojourner Foundation Spark

The New York Women’s Foundation The Sister Fund The Women and Girls Foundation of Southwest Pennsylvania The Women’s Foundation of California The Women’s Fund of Central Ohio The Women’s Fund of Greater Birmingham The Women’s Fund of Monterey County The Women’s Fund of the Community Foundation of Western North Carolina Third Wave Foundation Tides Reproductive Justice Fund of Tides Foundation Upstart Foundation Urgent Action Fund Valentine Foundation V-Day Vermont Women’s Fund Washington Area Women’s Foundation WNY Women’s Fund Women and Girls Fund of Waukesha County Women 4 Women Women Building Community Fund of New Mexico Community Foundation Women of the Evangelical Lutheran Church in America Women of Vision Fund of the Jewish Federation of Greater Philadelphia Women’s Endowment Fund, Akron Community Foundation Women’s Foundation for a Greater Memphis Women’s Foundation of Colorado

Women’s Foundation of Genesee Valley Women’s Foundation of Greater Kansas City Women’s Foundation of Minnesota Women’s Foundation of Montana Women’s Foundation of Oklahoma Women’s Foundation of Southern Arizona Women’s Fund for the Fox Valley Region, Inc Women’s Fund of Central Indiana Women’s Fund of Greater Green Bay Women’s Fund of Hawaii Women’s Fund of Greater Milwaukee Women’s Fund of Herkimer and Oneida Counties Women’s Fund of the La Crosse Community Foundation Women’s Fund of Miami-Dade County Women’s Fund of Mississippi Women’s Fund of New Hampshire Women’s Fund of New Jersey Women’s Fund of Rhode Island Women’s Fund of the Community Foundation of Grand Forks, East Grand Forks & Region Women’s Fund of the Community Foundation of Middle Tennessee Women’s Fund of Southeastern Massachusetts Women’s Fund of the Community Foundation of Fond du Lac Women’s Fund of the Community Foundation of Central Illinois Women’s Fund of Western Massachusetts Women’s Fund of Winston Salem Women’s Fund of Greater Cincinnati Foundation

ASSOCIATE MEMBERS

Women’s Fund of the Oshkosh Area Community Foundation Women’s Funding Alliance Women’s Program of the Asia Foundation Women’s Sports Foundation Wyoming Women’s Foundation

WHEN WOMEN’S FUNDS AROUND THE GLOBE ARE SUPPORTING

ECONOMIC SECURITY, THE

WORLD

AARP Foundation Annie E. Casey Foundation Asian Americans/Pacific Islanders in Philanthropy Association of Black Foundation Executives Chambers Family Fund Disability Funders Network Funders for Lesbian and Gay Issues Geneva Global, Inc. Grantmakers Concerned With Immigrants and Refugees (GCIR) Grantmakers Without Borders Hispanics in Philanthropy Institute for Women’s Policy Research International Museum of Women James A. & Faith Knight Foundation Jewish Funders Network NC Gives The California Wellness Foundation The Fund for Women in Asia Women’s Philanthropy Institute

HAS

ECONOMIC SECURITY.

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I Give to Strengthen My Connection to the World “I want my children and grand– children to look back and see that I was part of this wave that at least tried to change this world they would inherit.”

— Barbara Dobkin, Women Moving Millions donor

Women Moving Millions The Women’s Funding Network would like to extend special thanks to those who have invested in the global movement by joining the Women Moving Millions campaign, which is generating gifts of a million dollars and above to women’s funds.

We would like to especially thank those donors who have chosen to allocate their gift or pledged contribution to the Women’s Funding Network and the Women Moving Millions campaign: Carol J. Andreae Merle C. Chambers Jane S. Comer Sally Crane Abigail E. Disney Barbara Dobkin* The Swanee Hunt Family Fund of The Denver Foundation Hunt Alternatives Fund of Tides Foundation Helen LaKelly Hunt Anne Mendel

Individual Donors Movement Builders ($100,000+) Dobkin Family Foundation Helen LaKelly Hunt

Quantum Leap ($10,000+) Anonymous (2) Merle C. Chambers Serena S. Connelly Sally Crane* Anne Delaney Patricia Eder Tet Ansanm Fund of Tides Foundation, on the recommendation of Laurie Emrich Monica Graham Karen M. Herman* Polly Howells Lawrence & Nina Koh Sue & Phil Marineau Friedrike Merck Nancy Meyer & Marc Weiss Suzanne Musikantow** Helen Sharron Pollard The Jacquelyn & Gregory Zehner Foundation*

Wavemakers ($1,000+)

Anonymous (2) Cecilia Boone Dallas Women’s Foundation’s Boone Family Fund Ruby Bright* Karen Brightly in honor of Elizabeth Brightly

Peggy A. Brown Bunni Copaken with the Copaken Family Foundation Mary Lee Dayton Abigail E. Disney Joan B. Dunlop DeDe Esque & Henry Pyper* Barbara Forster Tracy Gary Barbara J. Graves, Ph.D. with the Lowell P. And W. Jean Graves Family Foundation Christine H. Grumm** Gail & Ron Irving Barbara & Henry Jordan Chris Kwak Kathryn Leighton Suzanne Lerner Jan Martin Ana Oliveira* Dr. Eleanor Padnick CoYoTe PhoeNix Marian Pillsbury Virginia Price* Catherine Raphael Cristina & Jesse Regalado* Renee S. Reiner Janet Riccio* Connie Robinson* Molly Schar** Patricia Lovshin Schinabeck Tuti B. Scott* Elizabeth Seja Min & Susan Freundlich

Sharon Steele Jean Trainor Jan Tuttleman Jackie VanderBrug Anne Wade & Gil Hagan Marla Williams* in honor of Ruby Bright

Visionaries (Up to $999)

Anonymous (16) Anonymous in honor of Carol Fine Anonymous in honor of Donna Nelson Anonymous in honor of Ea Velsevebel Greenwood Anonymous in honor of Elaine Johnson Anonymous in honor of Ella Edwards Anonymous in honor of Lisa & Mark Dodson Anonymous in honor of Ruth Renzelmann Anonymous in memory of Eve Scharf Anonymous in memory of Gertrude Stairs Anonymous in memory of Jeanne A. Dealan Anonymous in memory of Louise Sapienza Anonymous in memory of Rose Bradshaw Katherine Andersen Holley Arbeit & Jack Grippi in honor of Beth Dolan Heather Arnet Alisa Baker Donna Barkman Janet L. Barr Judy Bartels in memory of Phoebe Valentine Berrett-Koehler Publishers, Inc. Diana Bersohn Eleanor L. Brilliant

* Donor is on the board of the Women’s Funding Network **Donor is a staff member of the Women’s Funding Network

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Individual Donors,

continued

Dr. Robert L. & Lucinda W. Bunnen Roxanne & Mardy Cason Megan A. Cayler** Jonathan Chu in honor of Rose Simon Stephanie & Bill Clohesy in honor of Twink Frey Suzanne Cloutier Jessica K. Coloma in honor of Sebastiana Pachas Bill Connors, CFRE in honor of Isabelle Connors Janelle Cousino Sarah & Eric Cozzi Carol D. Davis Kate Davis Emilienne De Leon Aulina* Marie Dennis in honor of David Grosso & Serra Sippel Carl Dillion DiSalvo-Truitt Family Marta Drury Carol Edgar in honor of Helen LaKelly Hunt & Swanee Hunt David & Shauna Ejeh Ana Maria Enriquez Cindy Ewing Robin Fife in honor of Joni Gordon Andrea Flynn in honor of Debra Flynn Jeanne C. Fobes Julie Freeman Susan M. Garrett in honor of Margaret Garrett GE Foundation Marjorie Geiger Janet Amundsen Gietzel Christina Glendon GlobalGiving GoodTree LLC George Gordon, WASI Sara K. Gould & Rick Surpin* Dorothy & Richard Green* Nadine Hack

Joan Hadden Allison Harthcock Trudis Heinecke Ella Hirst Fowler Hoffman LLC LeAnne Hsu Lorraine Huckel in honor of Wayne & Suzanne Huckel Terri Hudoba Jewish Family and Children’s Services Jane A. Jontz Simone P. Joyaux Jude Jussim Hanneke Kamphuis Marion S. Kaplan Natalia Karbowska* Katzschner family June Katzschner in memory of Eleanor Glasson** Holly M. Kent Nancy Klavans Ken Klieman in honor of Miles & Zachary Klieman Cesa Kobe-Smith in honor of Linda Kobe-Smith Nancy Kurtz Lorna Lathram Kiran Lenz Stephanie Lesko in honor of Bobbi Rice Vandi Linstrot & Jami Matanky Elaine Maly* Glenn Mangurian Tobi Marcus Ayesha Mattu* Marnie R. McCurdy Kathleen McGarry in honor of Sharon Foster & the Foster Family, Susa McGarry, & Patricia McGarry Heidi & Dick McPherson Kathleen H. Morkert Nancy Porter Morrill Anne Mosle* in honor of Phyllis Caldwell, Donna Callejon, Deb Gandy, & Marjorie Sims

Shalini Nataraj* in memory of Vanitha Vaidya Network for Good Carla Oleska Polly Penney Deborah Puntenney, Ph.D. Dr. Sherry Radowitz Kavita N. Ramdas* Elizabeth Ramirez** Clothilde Redfern Gayle & Kenneth Reizes Marcel Reynolds** Lynda Rodolitz Michael Sacks Doug & Carla Salmon Liz, Michael, & Allison Schaffer** Peter & Heather Schoenrock in honor of Dona Tannler Marjorie Sims in honor of Sarah Sims Sharron Sisti Andrea Small** Julie Steckel in memory of Selma Raskin Jan Strout in memory of my mother Dorothy Strout Jessica A. Stuart Maureen Sweeney Margaret A. Talburtt, Ph.D. Heidi Thompson Trillium Asset Management Abbie J. Von Schlegell Frank W. Wallace in memory of Mary Dannan Charlotte Watson Kristina L. Watson** Brian Wilson Amber Woods & Eugene Fayerberg in honor of Sharon Woods Barbara J. Wright Debbie Zamd** Amy Zook & Melanie Smith Shaune Zunzanyika**

Sustaining Change Starts With Money The Women’s Funding Network shares its successes with numerous institutional partners who have invested in our work to advance the women’s funding movement. We are proud to honor both the W.K. Kellogg Foundation and the Ford Foundation for their enduring leadership and investment in women and girls.

the Ford Foundation’s investment in our capacity building strategies has transformed our membership into an international movementbuilding Network that channels the vision, dynamism and diversity of women’s funds into highly effective models for women-led social change.

The W.K. Kellogg Foundation has invested millions of dollars in women’s funds and the Women’s Funding Network over the last decade, contributing to a major increase in the Network’s growth and capacity to serve underrepresented and marginalized women and girls. During the course of our partnership, our membership more than doubled, the Network’s working assets expanded from $89 to $465 million and collective grant making escalated from $11 to $60 million.

The Women’s Funding Network would also like to extend a special thanks to the partners of our 2008 Annual Conference “Leadership for a Changing World.” Their generous contributions make it possible for member funds, donors and supporters to connect, learn and grow.

We are also proud to honor the Ford Foundation for their role as a committed investor in women’s funds and the Women’s Funding Network over the past 10 years. A leading funder in women’s development internationally,

Foundation and Corporate Funders and Partners AARP Foundation The California Wellness Foundation The David and Lucile Packard Foundation Fannie Mae Feminist Majority Foundation The Ford Foundation Global Fund for Women Institute of International Education Kellogg Action Lab The Kresge Foundation The Levi Strauss Foundation The Lodestar Foundation Marineau Family Foundation Ms. Foundation for Women Ms. Magazine Nike, Inc. Nokomis Foundation Pax World Women’s Equity Fund Rockefeller Philanthropy Advisors, Inc. The Starry Night Fund of the Tides Foundation The Sister Fund Tides Foundation Washington Area Women’s Foundation W. K. Kellogg Foundation

* Donor is on the board of the Women’s Funding Network **Donor is a staff member of the Women’s Funding Network

2 0 W o m e n ’ s f u n d i n g n etwor k

2 0 0 8 a n n u a l R E P O R T 2 1

The Strength of Our Numbers

Statement of Activities Year Ended December 31, 2008 with Comparative Totals for the Year Ended December 31, 2007

12/31/2008

12/31/2007

Cash and Cash Equivalents

1,437,285

2,479,471

Investments in Marketable Securities

1,468,296

2,520,784

Grants and Pledges Receivable

1,200,443

1,414,499

69,047

105,906

4,175,071

6,520,661

906,697

1,109,667

Long-Term Assets Grants and Pledges Receivable Loans Receivable

2,162,177

1,788,340

Other Assets

23,626

26,007

Furniture and Equipment, Net

91,624

77,329

Total Long-Term Assets Total Assets

3,184,124 7,359,195

3,001,343 9,522,003

Current Liabilities Accrued Vacation Liability Other Current Liabilities Total Current Liabilities

155,761

145,790

82,964

41,103

4,684

3,976

243,409

190,869

Long-Term Liabilities Note Payable

17,934

—

Total Long-Term Liabilities

17,934

—

261,343

190,869

Total Unrestricted

2,183,025

2,461,847

Temporarily Restricted

4,914,826

6,869,287

Permanently Restricted

—

—

7,097,852

9,331,134

7,359,195

9,522,003

Total Liabilities

Total Liabilities and Net Assets

3,285,610

3,651,412

4,781,840

54,340

—

54,340

2,095

Membership Dues

235,335

—

235,335

229,963

Conference Fees and Sponsorships

187,096

85,000

272,096

213,212

89,887

105,469

195,356

335,855

Other Income Net Assets Released From Restriction Total Support and Revenue

2,501

—

2,501

(9,815)

4,458,264

(4,458,264)

—

—

5,393,224

(982,185)

4,411,039

5,553,150

Expenses PROGRAM SERVICES Communications

284,302

—

284,302

403,891

Conference

471,445

—

471,445

474,744

1,393,896

—

1,393,896

690,989

Grantmaking

Capacity Building

128,554

—

128,554

352,952

Member Services

109,751

—

109,751

175,621

—

—

—

28,709

Poverty Initiatives

849,268

—

849,268

477,524

Women Moving Millions

881,607

—

881,607

514,303

4,118,823

—

4,118,823

3,118,733

New Initiatives

SUPPORTING SERVICES General and Administrative

667,385

—

667,385

492,344

Fundraising

556,691

—

556,691

506,432

Total Supporting Services

1,224,076

—

1,224,076

998,776

Total Expenses

5,342,899

—

5,342,899

4,117,509

Change in Net Assets before adjustments

50,325

(982,185)

(931,860)

1,435,641

(551,271)

—

(551,271)

(52,651)

222,126

(222,126)

—

—

—

(750,150)

(750,150)

—

(278,820)

(1,954,461)

(2,233,281)

1,382,990

BEGINNING NET ASSETS

2,461,847

6,869,287

9,331,134

7,948,144

ENDING NET ASSETS

2,183,027

4,914,826

7,097,853

9,331,134

Unrealized Gain/(Loss) Investment in Good Deed LLP Adjustments to Prior Year Pledges

Net Assets

Total Net Assets

365,802

Total Program Services

LIABILITIES AND NET ASSETS

Accounts Payable and Accrued Expenses

2007 Total

Investment Income

Current Assets

Total Current Assets

2008 Total

In-kind Donations

At December 31, 2008 with Comparative Totals as of December 21, 2007

Other Current Assets

Temporarily Restricted

Contributions

Statement of Financial Position ASSETS

Unrestricted

Support and Revenue

Change in Net Assets after adjustments

The information provided reflects the Women’s Funding Network unaudited financials for 2008 with comparison activity for 2007. For full financial statements, please visit our website at www.womensfundingnetwork.org

2 2 W o m e n ’ s f u n d i n g n etwor k

2 0 0 8 a n n u a l R E P O R T 2 3

Partners in Change board of directors Ruby Bright, CHAIR Executive Director Women’s Foundation for a Greater Memphis

Staff Claire Armstrong Intern

Anna Petrisko Information and Data Analysis Intern

Clare Winterton Vice President of Communications and Marketing

Megan Cayler Development Manager

Sherrie S. Prasad Member Services Associate

Muy Muy Yam Administrative and Technology Associate

Judy Chu Mayor’s Youth Employment and Education Program High School Intern

Elizabeth Ramirez Executive Coordinator

Debbie Zamd Information S Manager

Nicole Regalado Program Associate

Amy M. Zucchero Member Services Director

Marcel Reynolds Communications and Marketing Manager

Shauné Zunzanyika Poverty Program Director

Cristina Regalado Vice President of Programs California Wellness Foundation

Sally Crane Founder Women’s Fund of Central Ohio

Karen Herman Founding President Women’s Foundation of Greater Kansas City

Natalia Karbowska, VICE-CHAIR Board Chair Ukrainian Women’s Fund

Emilienne de Leon, AT-LARGE Executive Director Semillas

Elaine Maly Executive Director Women’s Fund of Greater Milwaukee

Connie Robinson, NOMINATIONS Vice President, Gideon Group, Inc. Board Member, Arizona Foundation for Women

Barbara Dobkin, AT-LARGE Dobkin Family Foundation

Ayesha Mattu Board Member Muslim Women’s Fund

Tuti Scott President Imagine Philanthropy

Elaine Edgar Bookkeeper

Anne Mosle President of Programs W.K. Kellogg Foundation

Ellen Sprenger Strategist

Christine H. Grumm President & CEO

Dorothy Walker Human Resources Manager Ball Corporation

Rachel Herzfeldt-Kamprath Communications and Marketing Fellow

DeDe Esque President & CEO Nokomis Foundation Sara K. Gould President & CEO Ms. Foundation for Women Dorothy Green, SECRETARY Board Member Women’s Foundation of Southern Arizona Christine Grumm President & CEO Women’s Funding Network

Shalini Nataraj Vice President of Programs Global Fund for Women Ana Oliveira President & CEO The New York Women’s Foundation Virginia Price, TREASURER President, Board of Directors Frontera Women’s Foundation

Janet Riccio Vice President Omnicom Group

Marla Williams Partner Holme Roberts & Owen LLP Jacki Zehner Founding Partner Circle Financial Group, LLC

Kelly Dawson Executive Associate

Laura Jacobs Development Intern June B. Katzschner Director of Institutional Giving Jennifer Lee Intern Mejin Leechor Programs Fellow Suzanne J. Musikantow Vice President of Development

2 4 W o m e n ’ s f u n d i n g n etwor k

Deborah Richardson Chief Program Officer Elizabeth N. Schaffer Chief Financial Officer Molly Schar Women Moving Millions Campaign Director Cynthia Schmae Vice President of Social Enterprise Andrea Small Finance Director Nancy Wan Finance Coordinator Kristina L. Watson Development Assistant for Institutional Giving

2 0 0 8 a n n u a l R E P O R T 2 5

“Despite their gains, women remain perhaps the world’s most under-utilized resource. …Over the past decade or so, the increased employment of women in developed economies has contributed much more to global growth than China has.”

— The Economist

505 Sansome Street, 2nd Floor, San Francisco, CA 94111 • PH: (415) 441-0706 FX: (415) 441-0827 www.womensfundingnetwork.org • info@womensfundingnetwork.org