March is Women’s History Month, an annual observance and celebration of the contributions of women to events in American history and contemporary society. This year marks an especially momentous occasion as it coincides with the 20th anniversary of the Women’s Fund, which was the first program of its kind here at Austin Community Foundation.
Founded in 2004, the Women’s Fund has evolved significantly over the years into what it is now—a vital force for change focused on eliminating the racial wealth and health divide faced by women of color in Central Texas. To date, the Fund has granted over $3.71 million to more than 100 local nonprofits that support the building blocks of economic security for women and children in these critical impact areas:
- Child Care
- Education
- Housing
- Women’s Health
- Unintended Pregnancy Prevention
Why establish a Women’s Fund?
In 2001, “…of nearly $35 billion given through foundations and corporate funding to charities, less than six percent went to programs that specifically serve[d] the needs of women and girls”. The Women’s Fund was created to address this gap in philanthropy and to empower women to make decisions about how and to whom grants were awarded. In 2005, during its first year of grantmaking, $59,000 was awarded to seven organizations at the inaugural “Power of the Purse” luncheon. Notably, founders of the Women’s Fund were intentional about planning for the long-term sustainability of the effort by establishing an endowment at Austin Community Foundation. Thanks to this vision, the Women’s Fund Endowment is nearly $500,000 and supports our ongoing work to ensure the economic mobility of Central Texas women and their families.
Coverage of The Women’s Fund of Central Texas’ second annual Power of the Purse luncheon in 2006.
Re-envisioning the purpose of the Women’s Fund
Since 2010, Austin has become one of the fastest-growing cities in the United States. As the city experienced the inevitable challenges that come with a tremendous population boom, the Women’s Fund sought to re-envision its purpose, recognizing that the effort would only be successful if it reflected the needs of the Community. In 2016, after extensive focus groups and a commitment to data-informed grantmaking, the Women’s Fund announced a new strategy to invest in the economic security of women in Central Texas as an evidence-based way to close the opportunity gap.
