$15M Matching Fund Encourages Women to Make Their Mark at Harvard

Five women with Harvard ties, in partnership with the University, have established a $15 million matching fund to encourage other women to make significant gifts to the University.

Harvard National Campaign Chair Rita E. Hauser announced the challenge fund at the May 15 Harvard Forum on Women and Philanthropy.

Mrs. Hauser, who conceived of the matching fund, led the effort with a $5 million gift; Lisa S. Cashin '75, Barbara Morris Caspersen, and Mary Gordon Roberts are among those who also donated to the fund.

"Rita Hauser and the other founders of this initiative have made an imaginative and wonderfully generous gift that will help the University to move forward in a significant new way," said President Neil L. Rudenstine. "The new challenge fund is itself a recognition of the important leadership role that women now play in every part of Harvard."

"We hope that this initiative will enhance the participation and leadership role of women within the worldwide community of Harvard graduates and friends," added Provost Harvey V. Fineberg.

Women who make gifts to Harvard of $25,000 or more will qualify for a one-to-one, dollar-for-dollar match from the $15 million Harvard University Women's Matching Fund. Donors may earn up to $250,000 in matching funds. Therefore, the impact of a woman's gift is doubled. For example, a gift establishing a scholarship fund that would provide financial aid for one student each year will, with the match, support two students.

This is Harvard's first-ever University-wide challenge; it involves the College and all the graduate and professional Schools.

Concomitantly, Radcliffe is announcing its own $3 million campaign challenge fund for men and women to broaden the base of its donor pool as part of the $100 million Campaign for Radcliffe.

"I am pleased that Harvard and Radcliffe are able to announce these parallel initiatives at the same time," said President Rudenstine. "These challenges have the clear potential to reinforce our mutual efforts while also strengthening each institution's distinctive programs."

The Harvard University initiative comes as a number of studies have suggested differences between men and women when it comes to philanthropic decision-making.

Reports indicate, among other points, that many women have tended to contribute significant volunteer time and service to the institutions about which they care rather than significant gifts of money. Often, women are interested in not only how their gift benefits a specific institution but also how it benefits society in general. Women often rely not on formal relationships with institutions but on their perceived value of the institution's goals and impact.

These studies were among the topics addressed at the forum on women and philanthropy, co-hosted by Maisie K. Houghton '62 and James R. Houghton '58, MBA '62, and Maryann C. Tsang-Fong '80 and Daniel D. Fong '80.

Alumnae and friends gathered to discuss gender differences in philanthropy, and financial and estate planning and techniques, among other related topics. Another session illuminated women's approaches to giving as Elizabeth S. Armstrong '58, Elisabeth A. Hobbs, EdM '61, Swanee Hunt, and Maryann Tsang-Fong described their philanthropic motivations.

Also part of the program were faculty presentations on the economic, historical, and political perspectives on women and philanthropy.

Mrs. Hauser, who with her husband has previously given Harvard two eight-figure gifts, was the keynote speaker. "For several years, I've been thinking about how to encourage women to participate as major donors. Where better to do this than at Harvard, where donors have the opportunity to make a significant impact with their gifts."

She continued: "While the past few decades have seen women gain equal standing with men in a number of areas from university admissions to business, the professions, and other sectors of society, only now are they breaking through one of the last exclusively male domains: philanthropy. I hope this challenge fund prompts women to consider that philanthropy is an excellent avenue for becoming involved and making a difference at an institution about which they care."