Gaby King Morse had the opportunity to connect live with long time CWE supporter and former Board member, Ellen Hoffman. It was great to get some time with Ellen to learn more about why she’s stayed connected to the work at CWE for more than 20 years!

Gaby King Morse: I am excited to go on this interview with you! I have had the privilege to work with you over the last 5 years as a key volunteer for CWE and so I know some things about your CWE journey- but not all. Time to learn more! How did you first hear about the CWE? 

Ellen Hoffman: I was introduced to CWE by one of the co-founders, Andrea Silbert. I knew Andrea before CWE was launched- when she was an undergraduate at Harvard, I was on the board of Harvard Student Agencies (HSA), and she became one of the first women presidents of HSA. In 1995 when Andrea was launching CWE, she got in touch with people she knew from her past. She had a gathering at her parents’ house in Brookline, and I raised some money for CWE for the first time. At that time, it wasn’t yet a more formal Gala, but a showcase for some of the women entrepreneurs we served. I raised $1000 with some help from various friends, which was a lot back then. 

Gaby King Morse:: You jumped right in to raising money for CWE, and you have not stopped! What drew you to the organization? 

Ellen Hoffman: It was really the mission! And I thought, “that makes so much sense me”, to support women who are starting a company.  I knew this to be important especially my last few years at Fidelity, where I was President of one of the small Fidelity companies. Now, I had it very different from the clients, because I had all the support of Fidelity Investments. I never really wanted to start my own business; however, I have great admiration for women who would and could. 

Gaby King Morse: So- when did you join the board?

Ellen Hoffman: When I retired, CWE was one of the nonprofit organizations that I wanted to get more involved with, but I really didn't have time while I was working full time. I started volunteering with the Gala and the Auction, and after a few years I was asked to join the Board.

Gaby King Morse: So, when you got involved as a volunteer, how did you help the organization move forward? I could probably answer this question myself- as I have been so grateful for the many ways you have supported me and CWE- but it would be wonderful to hear you answer that question.

Ellen Hoffman: One of things I bring to everything I do is a love of networking! So of course, I enjoy introducing new people to discover CWE!   And it turns out, because I had worked at Fidelity for so long, I knew a lot of former colleagues that were now working at other financial institutions around Boston. I got involved with all aspects of the Gala and the auction and was able to reach out to my network to help. For 2 years I co-chaired the Gala itself.  I have always loved the Gala and still do. It’s an evening of celebration of the CWE mission, our entrepreneurs, and a way to raise funds to support this important work!

Gaby King Morse: And you keep connecting new people to CWE. I am so grateful. Over the almost 20 years you must have seen a lot of change at CWE and the environment for women entrepreneurs.

Ellen Hoffman:  CWE has grown so much, which is really terrific and it's reaching a larger and even more diverse clientele. What has also been fascinating and exciting is to see the programs evolve over time and become more effective.

Gaby King Morse: Thank you, Ellen. We certainly are working hard to better support women entrepreneurs. So let me ask you, over the years you've met a lot of women and heard their stories of business success and their stories of struggle. My guess is that some things have gotten better for women and some things have not. When you're thinking about it today, what are the biggest challenges that women entrepreneurs face?

Ellen Hoffman: Well, all you have to do is look at this current political environment and the stuff that is being said because one of the presidential candidates is a woman. In some ways, I think the opportunities are much greater for women, but I think the prejudices and anger at women still exist. I wonder if the banks are any better than they used to be? Banks used to be really bad about lending to women entrepreneurs. Unfortunately, I do not think things have changed very much in this regard.

Gaby King Morse: At CWE we work with some wonderful financial partners who are dedicated to helping women gain access to capital, but you are correct that women, and particularly women of color, receive very little funding for their businesses compared to their male counterparts.  In your experience as a volunteer and champion for women entrepreneurs- how would you recommend we help women in the face of such blatant adversity?

Ellen Hoffman: We just have to keep supporting them, and we keep telling them they can do it. We have to make sure they know they have our support, and that they should do their best to shut the negative noise out. 

Gaby King Morse: And I will promise you that CWE will work hard in partnership with banks, CDFIs, and microloan organizations to connect women to the financial resources they need to succeed. Not an easy task- but one that we are committed to. I wanted to take a moment to circle back to your amazing ability to network and bring new people into the CWE family.  When you talk to a friend or colleague about why they should consider investing in CWE, what are the most compelling reasons?

Ellen Hoffman: Once people learn about CWE and what we do to provide training and technical assistance to women launching and growing their businesses- they very quickly understand the need. It’s not an equal playing field, so they are willing to do their part to invest in CWE and the success of women entrepreneurs. What CWE does, helps women to improve their lives in a very important, meaningful way. And the programming, expert consulting and networks provide skills and tools that CWE clients can leverage in life and business. It’s as simple as that.

Gaby King Morse: Thank you for staying involved to help CWE support women entrepreneurs across New England. Last year you completed 18 years on the CWE Board of Directors. Not only am I grateful for your service on the Board, but I am also grateful that you remain involved as a member of the Resource Development Committee (fundraising.) You are a CWE connector extraordinaire! 

Ellen Hoffman: Well, I certainly care a lot about CWE, and I think you and your staff have done a great job over the last five years.  

Gaby King Morse:  Thank you so much Ellen! Onward!!