Women's participation in community college foundations is examined within the framework of the role of women in the social, political, and economic milieu. Section I discusses the extent of changes in women's roles and stereotypes and presents information on a national study conducted at the Florida State University to determine the current level of participation of women in foundations and to discern prevalent attitudes about the strengths and weaknesses of women in various foundation roles. Each of the subsequent sections examines basic questions of women's role in society in light of responses to the study questionnaire and a review of recent literature and research. Section II discusses the question of whether women hold a majority of the nation's wealth. Section III examines women's career advances with particular emphasis on foundation careers. Section IV highlights the psychological, biological, and cultural influences on sex-role and sexual stereotypes, and includes a discussion of women's attitudes about money. Section V discusses current societal trends and includes an examination of the reasons for, and evidence of, women's increased financial "savvy." Finally, Section VI discusses the implications of the study with respect to women as fund raisers and donors and offers recommendations for community college policy makers at the national, state, and institutional levels. (HB)