In case you haven’t heard, Macy’s is giving away a $1-million makeover to one lucky recipient. As fashion maven Clinton Kelly tells us breathlessly on the ads, the winner will get a chance to completely transform her life.
One million dollars. One person.
In the last year, through our signature Stepping Stones initiative, Washington Area Women’s Foundation invested $270,000 in job-training and asset-building programs run by local nonprofits that transform women’s lives. In that time, the 484 low-income mothers enrolled in these programs increased their income and net assets by $6.2 million. They’ve trained for and gotten jobs that pay living wages and health insurance benefits. They’ve started savings accounts. They’ve gone to college. They’ve bought homes. They’ve filed taxes and received tax credits when appropriate. Many have achieved economic security—all are striving for it.
The immediate economic return on our investment was 2196%. The human return is far harder to calculate. Nearly 500 women’s lives were transformed, as were the lives of their children, and in some incalculable way, their communities. What is that worth?
I suppose Macy’s one-million dollar investment will give them the return on investment they’re looking for—increased or continuing awareness of the Macy’s brand. One person’s life transformed.
Just think what the return would be if they gave that $1 million to Washington Area Women’s Foundation!
Donna Wiedeman is the Executive Assistant to the President at Washington Area Women’s Foundation.
