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If you have any questions or concerns, please use the contact information provided in this email as this inbox is not monitored for replies.
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Setting Up Your Family Philanthropy for Long-Term Success
All families have good intentions when giving assets to charity. They want to share their resources, positively impact the community and show their children how their values are reflected in their philanthropic work.
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But often, for a lasting family philanthropic program, giving away resources is simply not enough to generate family engagement and community impact. It takes more focus and commitment to build something that carries into future generations. Building out the framework, the ongoing maintenance and evaluating the impact all require added thought and effort. Likewise, you need ways to evaluate what is working and what needs to change.
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In that way, family philanthropy is like a small business. And like any business, you need a plan and a way of including your family and others to further your progress.
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When done well, philanthropy can be a bridge to bring family together around a common goal. It can communicate values across generations and develop a sense of social responsibility in the rising generation. However, the construction of that metaphorical “bridge” is where the challenge lies.
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Establishing a process-driven approach to your giving can help build the bridge across generations and maintain growth within your family philanthropy.
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The experience of the Miller family, a single-family office, can help illustrate. Their goal was to achieve family cohesiveness, clear communication and evolve together. What they initially lacked in structure they made up for by implementing a clear process to further their philanthropy.
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Our thanks to Fiduciary Trust International
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About Fiduciary Trust International
Growing and Protecting Wealth for Generations. Fiduciary Trust is a wealth management firm founded in 1931 by families for families, with a singular focus on growing and protecting your wealth through generations. We work closely with individuals, families and foundations to build and manage personalized investment portfolios, and to develop estate plans that extend wealth to future generations.
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Upcoming Events
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June 29: Pacific FBC, U of Northern Iowa, Virtual
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July 11: University of Toledo, Virtual
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July 21: University of Cincinnati
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July 26: HR Expert WEBCAST, Mack International, Virtual
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August 10: PATG Event, Chattanooga, TN
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September 11-12: University of Cincinnati Annual Gala
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Sign-Up For New Podcast: "Voice of Family Business on Capitol Hill" with host Pat Soldano.
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Join our growing family of podcast listeners by clicking on the links below to our new podcast, "The Voice of Family Business on Capitol," where each episode delves into the major issues facing family businesses and family business centers today. Subscribe by clicking on these links, or wherever you get your podcasts.
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We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…
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As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a supporter.
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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That’s why Policy and Taxation Group is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill.
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About Policy and Taxation Group
Policy and Taxation Group is your voice in Washington on economic freedom. We advocate for policies that allow American families to fully enjoy the economic liberties and benefits of a robust free market unique to our nation. For over 25 years, we have been the loudest voice in the nation’s capital on eliminating the death tax. This ill-conceived tax has a destructive impact on families, family businesses, job creation, and the national economy.
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Have questions or would like more information about becoming a Supporter or donating? Please contact John Marino at [email protected].
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