Family Philanthropy
Inter-Generational Philanthropy, Next Gen Philanthropy, Foundation Board Development
Many families find that collective philanthropy is a source of connection and shared purpose. Making the time to develop alignment around philanthropic values, mission, and the strategy for giving, enhances the success of family foundations. This is especially important for families who seek to engage the next generation in family philanthropic efforts and for sibling and cousin groups who have taken over the leadership of their family foundations.
Develop or refine the vision for family giving. Why does the family want to do joint philanthropy? What is the role of individual giving? How do these two ways of giving co-exist?
Define the mission, or the scope, of the philanthropic efforts. Are you focused on a single issue or geographic area? Or are there a number of issues that the family philanthropy will support?
Determine a giving strategy to implement the family’s vision and mission. Are you funding research, well-established programs, or venture philanthropy, for example?
Develop appropriate governance policies and processes to oversee of the philanthropic efforts. How will you divide up roles and responsibilities? How will decisions be made?
ARTICLES
FAMILY GOVERNANCE MEETS FAMILY DYNAMICS
A survey and strategies for successful planning and execution of joint philanthropy.
A FRAMEWORK AND GUIDEBOOK FOR IMPROVING THE LIVES OF WOMEN AND GIRLS
A guidebook for social impact investors from the Center for High Impact Philanthropy at the University of Pennsylvania.
SYSTEMS THINKING: A PRACTICAL LENS FOR UNDERSTANDING ENTERPRISING FAMILIES
Understanding the family as a coherent system and exploring how this can lead to greater understanding of a family’s dynamics.
GIVING HARMONIOUSLY AS A FAMILY
Families often have patterns that affect the way they work together. Recognizing these patterns, and adjusting them as needed, can help develop a more harmonious family-giving process.
UNDERSTANDING THE VALUES, GOALS AND LIFE CHOICES OF ULTRAWEALTHY WOMEN
The values, goals, and life choices of 40 ultrawealthy women, focusing on their evolving relationship to their wealth and the role it plays in their life decisions.
Related Articles
Case Studies
TALKING TO YOUR CHILDREN ABOUT MONEY AND WEALTH
Relative Solutions decided that, since several families had been asking the same question, it would be useful to hold a small educational seminar to consider this topic. We mapped out central guidelines, which included talking to the child at his/her level, teaching him or her about the responsibilities that go with wealth and some examination of the adults’ values regarding money. After this initial step, the senior generation in all the families decided to meet regularly to work on clarifying their values and how to transmit them. Later work centered on helping the adults to work with their own children.
WHAT DOES IT MEAN TO HAVE INHERITED WEALTH?
A fourth-generation family enterprise sought counsel because they were concerned about their daughters' reaction to inheriting rather than earning their wealth.