Lisa Belkin writes in the August 23rd New York Times Magazine about the Power of the Purse.

She notes that philanthropy among women isn’t new and that it is growing. More women are controlling more wealth than ever before and of those in the wealthiest tier of the country, 43% are women.

Belkin notes that women are giving differently than men and how they have given in the past. They are more likely to use their wealth to to social change work – direct and systematic impact.

What’s inspiring about the piece is that in these tough economic times efforts like Women Moving Millions are exceeding funding raising goals (original goal was $150 million and they have exceed their goal by $30 million.)

Highlights on how women and men differ in giving include:

1. Women are less likely to want their name on things and more likely to give as part of drives that include other women.

2. Women tend to spotlight causes for different reasons (such as women’s health, microfinance of business owned by women).

She noted a study by the Center of Philanthropy at Indiana University (I sit on their Women and Philanthropy Institute Council of Advisors)  that describes men’s giving as practical and women’s as emotional and an obligation to help those with less.

Belkin ends the piece alluding to the question, how will increased X-factor philanthropy change the world? The answer is  increased giving by women will change the world in positive way for everyone and it’s up to use to figure out how to engage more women in the movement.