Smart philanthropy: The psychological effects of the pandemic on women

December 29, 2020 | By The New York Community Trust

This fall, The Trust spoke with experts about contemporary issues in philanthropy.

These interactive briefings give our donors an opportunity to think about their philanthropic legacy and how to align it with their personal vision and values. To learn more about joining our community of compassionate donors, contact us at giving@nyct-cfi.org.

The COVID-19 pandemic has impacted everyone’s lives, but it has affected women in unique ways. As women try to manage work, responsibilities at home, and family dynamics, alongside making important financial and philanthropic decisions, it became clear to The Trust’s Women’s Advisory Council that we needed a program that would address these important issues. To discuss how the pandemic has been affecting women, The Trust assembled a wide-ranging panel of experts. The panel included the head of the women’s division of psychiatry at a leading NYC hospital, an elder-care attorney/wealth management expert, a senior management consultant and psychologist, and a senior and seasoned financial advisor. What follows are excerpts from that conversation.

Alison Hermann, M.D., Department of Psychiatry Women’s Division, Weill Cornell Medicine, discusses the automatic responses triggered by the ongoing health crisis.

Andrea Kushner, Senior Vice President & Director, Bernstein Global Wealth Management, talks about the things that women are finding they can control in their lives during a time when so much is out of our control.

Kim Isaacs Katz, Principal, Bernstein Private Wealth Management, notes that some women have found they are able to step forward to help others amid this unique crisis.