Current Features
Powerful Women Powering Philanthropy
Visionary women have created a culture of philanthropy that has inspired others to give
By Kiley Mallard
Over The Last Decade, a trend has emerged at the 91社区: Powerful women making powerful gifts that are literally changing the footprint and offerings of the university.
It began with Carol Morsani, who with her husband, Frank, Life Member, has given more than $40 million to the university, including to the Morsani College of Medicine that bears their name.
Pam Muma and her husband, Les, 鈥66, Life Members, are the university鈥檚 largest individual benefactors, giving more than $56 million to support the Muma College of Business, USF Health and Athletics.
Throughout her 19 years as USF president, Judy Genshaft and her husband, Steven Greenbaum, Life Members, gave $10 million to various causes at the university. Then, just before her retirement, they made a $23 million gift to build and name the Judy Genshaft Honors College and endow the college鈥檚 deanship. It is perhaps the largest gift by any college president to their own institution while still in office, and brings their total giving to date to $33 million.
Carrying on the tradition of outstanding female benefactors is Kate Tiedemann, Life Member, whose $10 million gift to name the Kate Tiedemann College of Business still stands as the largest gift in the history of USF St. Petersburg. Her spouse, Ellen Cotton, Life Member, followed with a gift of $1 million for scholarships, cementing their family鈥檚 strong commitment to USF St. Petersburg and its students.
These visionary women have created a culture of philanthropy that has inspired other women to give.
Lynn Pippenger, MBA 鈥88, Life Member, has given nearly $30 million to USF Tampa and USF St. Petersburg, including a $5 million gift to name the iconic Lynn Pippenger Hall at USF St. Petersburg. She has noted she was inspired by the giving of others to make her significant gifts to USF.
In April, Monica Wooden, co-founder of MercuryGate International, gave $5 million to name the Monica Wooden Center for Supply Chain Management and Sustainability in the Muma College of Business.
And most recently, inspired by Genshaft鈥檚 gift, Claudia McCorkle made a $1 million gift toward the Judy Genshaft Honors College. McCorkle, a longtime donor to the college whose total giving is nearly $15 million, previously created two separate scholarship programs (one for study abroad and one for academics) almost a decade ago.
While an uptick in female philanthropy has been noted across the U.S. as women鈥檚 share of wealth has risen over the last 50 years, USF can clearly count itself among the leaders of this trend.
According to the Women鈥檚 Philanthropy Institute (WPI) at the Indiana University Lilly Family School of Philanthropy, women hold around 40 percent of global wealth. WPI also found that women are more likely to give 鈥 and give more 鈥 than their male counterparts. It鈥檚 a potent combination.
For these donors, where does the desire to give come from?
McCorkle says it comes 鈥渟traight from the heart.鈥
鈥淚t is pure. It is innate,鈥 she says. 鈥淢y mother remarked on my 鈥榞enerosity鈥 when I was a very young girl. It was such a big word! I asked her what it meant, and she explained it was like bringing chewing gum to share with the whole class.鈥
McCorkle鈥檚 mother also taught her to always leave a place better than you found it.
鈥淧hilanthropy is something beyond the realm of gender, race or religion. It is something innate; a means of sharing to make the world a better place,鈥 she says.
Wooden also remarked on the desire to give being innate, especially in women.
鈥淚 always think that women鈥檚 DNA is more about giving. It鈥檚 easier,鈥 she says.
Wooden has seen this play out with her daughter and son while playing sports.
鈥淲hen a girls鈥 team loses, they all believe it鈥檚 their fault; when a boys鈥 team loses, it鈥檚 the other guys that didn鈥檛 play well,鈥 she says. 鈥淥ur culture is changing though, and I hope we end up in the middle.鈥
In her adult life, she鈥檚 observed a tidal wave of increased support around advancing women in business, especially through her membership in C200, an organization of the world鈥檚 most successful women business leaders whose mission is to advance women entrepreneurs and corporate executives.
鈥淭hus, more women are helping women,鈥 she says.
For Pippenger, giving began in childhood.
鈥淲hy did I become a volunteer and philanthropist? Because as a child, the number one thing I was taught to do with my money was to 鈥榞ive back,鈥 or as we say today, 鈥榩ay it forward,鈥欌 she says.
A St. Petersburg native and USF alumna, Pippenger has certainly given back to USF, as evidenced by the Lynn Pippenger School of Accountancy in the Muma College of Business and Lynn Pippenger Hall at USF St. Petersburg, home of the Kate Tiedemann College of Business.
鈥淲hen I was 4 or 5 years old and given a small allowance, I was taught three things: one, I always had to 鈥榞ive back鈥 in treasure, time and talent; two, I had to save some money; and three, I could spend some of it. I still do those same three things today.鈥
Muma also says philanthropy was something ingrained in her from a young age.
鈥淚 grew up in a giving family. Especially my grandmother, she was such a giving person. Not monetarily, but of her time. I think I learned from her that you have to reach out, you have to give of yourself,鈥 she says, and that鈥檚 where her journey began, with volunteer experiences through Girl Scouts and other organizations in high school.
But it was the loss of her daughter, Jennifer, who passed away in a neonatal nursery, that first got her thinking about how to give back, not just time and talent, but monetarily.
鈥淭hat鈥檚 the basis where it all started from a larger monetary standpoint. I still say it鈥檚 not the money. It鈥檚 your time and your interest and your dedication to one or many organizations. Giving back in every way,鈥 Muma says.
The same is true for Genshaft, who has generously given her time, talent and treasure to USF over the last 19 years.
鈥淓veryone in life wants to make a difference,鈥 Genshaft says. 鈥淚 believe the best way to do so is by helping others. Whether through your time, your talent or your resources, giving back is something that is so important to me and to my family.鈥
Giving of time is how Morsani started her philanthropic journey.
Morsani was instrumental in helping to found USF鈥檚 Women in Leadership and Philanthropy (WLP) program and served as the inaugural chair of the organization.
鈥淚 had to be taught by Frank, as strange as that may seem,鈥 she says about where her philanthropic drive comes from. 鈥淚 gave of myself, as a Girl Scouts leader and that sort of thing with the children, but giving big where it was important, where it really counted, he had to teach me how to do that. We鈥檝e given to USF because what the university does for the community is important.鈥
Her mother also had a huge influence on her 鈥 a suffragette who left home at 17 and put herself through school at Valparaiso University.
鈥淪he had a large effect on me about what women can do and really what they should do,鈥 Morsani says.
What women can do has certainly shifted over the last few decades. In a study by Fidelity Charitable it was noted that societal changes over the last 40 years have altered gender roles.
Tiedemann, a successful businesswoman herself, credits the increasing number of women at the top of their professions as the reason we鈥檙e seeing more and more significant gifts by women.
鈥淭here are more women with more key roles in business making more money, so they are more able to make transformational gifts,鈥 Tiedemann says.
Since 2014, Tiedemann and Cotton have given more than $14 million to USF St. Petersburg, WLP and other initiatives.
Tiedemann emigrated from Germany at 18 without speaking a word of English and joined the household staff of former New York Gov. Thomas Dewey. From there, her career began in the corporate world as a secretary and culminated by founding Katena (鈥淜ate North America鈥), a premier international company based in Denville, N.J., that designed and manufactured ophthalmic surgical instruments sold in 110 countries.
鈥淚 continue to wonder how my career path might have unfolded if I had been able to have a formal education,鈥 Tiedemann says. 鈥淲hile I managed to be successful without it, in today鈥檚 rapidly changing world, it is extremely important for students to seek a broad spectrum of education to become future leaders in the world of business, and the USF Kate Tiedemann College of Business is a great place to do it.鈥
Like Tiedemann, Wooden found success in founding her own business.
Wooden started MercuryGate in 2000 with the financial investment of family and friends, working for three years without pay to get the business up and running. When she sold MercuryGate nearly 20 years later, those same investors along with many employees 鈥 40 people in all 鈥 became millionaires.
Reflecting on the increase in women philanthropists, Wooden also pointed to the improvement in women鈥檚 earning potential, with more and more women holding executive-level positions and thus making substantial money.
鈥淚 think it鈥檚 just women getting the chance to be equal players, the chance to 鈥榖reak the glass ceiling鈥 and start businesses,鈥 she says.
Muma echoes their sentiments, noting there are more career opportunities for women than ever, and with greater capacity comes greater potential to give.
鈥淲e鈥檙e still a minority, but it鈥檚 happening. It鈥檚 a gradual introduction,鈥 she says. 鈥淲omen empower women. I鈥檓 hoping they鈥檙e seeing other people doing it, and they鈥檙e seeing the value in it.鈥
鈥淓specially for women, philanthropy is a personal thing, she says. The Fidelity Charitable study found women have more of an emotional connection to their giving than men, often volunteering or becoming involved in the causes they support.
鈥淲hatever you might be involved with, you have to build a relationship with that entity before you鈥檙e going to write a check. It鈥檚 like, 鈥榣ocation, location, location鈥 in real estate. It鈥檚 鈥榬elationship, relationship, relationship,鈥 when you鈥檙e talking about philanthropy,鈥 she says. 鈥淔or Les and I, our relationship has been strong with USF.鈥
For McCorkle, the Judy Genshaft Honors College has been an ideal match for her philanthropic vision. To date, her scholarships have allowed more than 100 honors students to pursue their dreams of global experiences and an honors education at USF.
鈥淚t鈥檚 wonderful to hear what these students have been able to experience abroad,鈥 says McCorkle, who is a strong supporter of cultural exchange. 鈥淪ome have helped to build both educational and medical facilities in Central America and the Caribbean or shadowed neurosurgeons performing brain surgery in Switzerland 鈥 it鈥檚 amazing. I leave those meetings walking on air because I am delighted to see their happy faces and hear about their life-changing experiences.鈥
With so many worthy causes in need of support, Cotton, a retired banker and Hallmark store entrepreneur, advises women to give to areas they care most about and where the money will have the greatest impact.
鈥淕ive most to organizations about which you are most passionate and whom you know will do the most good for the most people with what you give them,鈥 she says.
Cotton, for example, gave $1 million to establish the Ellen Cotton Endowed Scholarships, which support full-time undergraduate students pursuing all majors in the Kate Tiedemann College of Business on the USFSP campus.
鈥淚 continue to be concerned about qualified students being unable to attend because of their family鈥檚 financial situation,鈥 Cotton says. 鈥淚 am also appalled at the level of student loan debt being accumulated by today鈥檚 university students. At the same time, I want them to enjoy and grow through the college experience.鈥
When deciding which areas to support, Wooden sat down with her family to choose causes, which include advancing women in business, developing the supply chain field, assisting a dog rescue, combating domestic violence and ending human trafficking.
Wooden, who has been involved with the Center for Supply Chain Management and Logistics since 2012, knew the timing was right for her transformational gift after watching both the center and the university grow in stature over the last few years.
鈥淚 think the biggest thing is support something that you want to see significant progress in and do it in a big way,鈥 Wooden says.
For Genshaft, it was second nature to support the university that has been such a huge part of her life.
鈥淲e have felt very fortunate to have been able to give back to the University of South 91社区, which has given so much to us,鈥 she says. 鈥淚t鈥檚 only natural that we would do whatever we can to ensure its continued success.鈥
Morsani says the intent of her giving has been to make the place where she and her husband live a better place. In that vein, they have given generously to the arts, education and health.
鈥淎s good citizens, people need to do what they are able, giving time as well as finances to improve the lives of all,鈥 Morsani says.
Seeing giving come full circle is most satisfying for Muma. After 20 years of supporting scholarships, she has seen many of her recipients go on to become successful in their own lives and then reach back to lend a helping hand in their communities.
鈥淭hat鈥檚 what it鈥檚 all about. We have taught them, the scholarship recipients, it鈥檚 important to give back,鈥 she says. 鈥淚t鈥檚 full circle. That鈥檚 why you start anything that you do.鈥
The Power of the Collective
Not only are women in positions of power exercising their philanthropic might, but women in general are realizing the power of pooling their assets. According to the Women鈥檚 Philanthropy Institute, women like to give collectively, with 70 percent of giving circles being majority-women. An extremely successful example of one such program exists at the 91社区.
Foreseeing the emergence of this philanthropic trend, Carol Morsani, Judy Genshaft and Pam Muma were part of a group that founded one of our region鈥檚 first philanthropic giving circles, USF鈥檚 Women in Leadership and Philanthropy (WLP). WLP, which will celebrate 15 years in 2020, has collectively raised well over $6 million since its founding and has invested almost $2 million in student scholarships, faculty excellence grants and funding for mentoring and leadership development programs.
More importantly, this group 鈥 now more than 350 members strong 鈥 has leveraged the power of the collective time, talent and treasure of its diverse membership to benefit countless women throughout USF and the broader community.
.