Money and Power
On Investing Spring/Summer 2001

It may be a man's world, but if Naomi Wolf (pictured) and the other founders of the Woodhull Institute in Ancramdale, New York, have their way, that won't be the case for long.

The rural 368-acre institute, a nonprofit, nonpartisan educational haven, offers women three day seminars in "ethical leadership." Indeed, when Wolf, author of The Beauty Myth, radio producer Margot Magowan, and Stephanie Sobotik, of the women's group Leadership Texas, founded the institute four years ago, they pointedly named it after 19th-century feminist Victoria Woodhull, a Wall Street stockbroker and presidential candidate who called for women's equality, education, and reproductive control.

The founders are teaching what they call "the compassionate use of power": attaining one's goals without having to compromise one's principles. In Level I classes, younger women (ages 21-29) cover such topics as public speaking, fund-raising, organization building, and ethics in the workplace. Women in mid-career take the Level 11 Curriculum, which focuses on negotiation skills, navigating life and career transitions, and ways for women to balance their priorities.

Perhaps the most practical skills taught during a Woodhull weekend, however, are those for the management and deployment of money. Level I students get an introduction to the basics of financial literacy, while Level II students learn about entrepreneurship, credit ratings, and risk tolerance.

"Everyone wants to become an avid investor and millionaire overnight-but there's a lack Of understanding of the importance of personal financial management," says Melissa Bradley, a Woodhull board member who guides students through the financial topics.

Beyond the basics, these financial topics "can be overwhelming for some women," says Bradley. To deal with that, therapist Robin Stern leads group discussions about the psychology of money. "We ask questions like, 'What has money meant in your family? What would it take for you to be more comfortable with your finances?' ''Bradley says.

If Woodhull's future female leaders intend to abide by the golden rule (that is, she who has the gold makes the rules), it'll be crucial for them to, er, husband their resources.

The Woodhull Institute for Ethical Leadership, 61 East 8th Street, #130, New York, NY 10003; 212-475-5575; www.woodhull.org; e-mail: woodhulli@aol.com.