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Women control more than half of the nation's wealth, and are channeling more of that money into philanthropy.

As affluent women take charge of family or business giving decisions, they are directing more donations toward historically underfunded causes. Some are joining forces to make their philanthropic dollars go farther.

Last week, 100 wealthy women, including Jennifer Buffett, daughter-in-law of billionaire investor Warren Buffett, and Walt Disney Co. scion Abby Disney, said they would each give $1 million or more to grant-making organizations focused on women and girls.

As part of an initiative called Women Moving Millions, launched by sisters Helen Lakelly Hunt and Swanee Hunt in partnership with the San Francisco-based Women's Funding Network, more than $176 million have been pledged to benefit 43 organizations world-wide.

A sizable group of women are 'waking up to the fact that we have the voice, power and money to bring to the table,' says Ms. Buffett, who heads the NoVo Foundation along with her husband, Peter.

Propelled by a hefty 2006 pledge from Warren Buffett of Berkshire Hathaway Inc. class B shares, the foundation focuses on causes that empower young women and girls. Peter and Jennifer Buffett are co-chairmen of the foundation's board, but Ms. Buffett oversees policy and program development and serves as NoVo's president.

The economic clout is already there: Women control almost 60% of the nation's wealth and 80% of purchases, while occupying about half of the managerial and professional jobs in the U.S., according to research from OppenheimerFunds Distributor Inc.

The key for affluent women now is to recognize that ability, influence and access and do something with it, says Andrea Pactor, the associate director of the Women's Philanthropy Institute at the Center on Philanthropy at Indiana University.

Women are more likely than men to be donors to charity and give more than their male counterparts, particularly at the highest income range, she says.