As the largest intergenerational wealth transfer in history unfolds during a time of rapid technological, climate, and social change, some families view philanthropy as a way to build family cohesion and teach younger members a sense of responsibility. Philanthropy can be a unifying force – but it can also lead to conflict as families work to balance legacy, change, and personal relationships.
Family Engagement in Philanthropy
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Disruptive Philanthropists
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The way individuals are approaching philanthropy has evolved in recent years, with philanthropists taking the very best of the corporate world and adding more rigor and measurement to how they give back to social causes, reprioritizing how and where they invest, and going beyond financial contributions to direct both time and talent to their philanthropic endeavors. Against this backdrop, the emergence of the disruptive philanthropists comes to the forefront in this report to help you maximize your philanthropic impact.
The events of the last two years have been a catalyst for families to assess past and future philanthropy goals and strategies. Key elements currently impacting philanthropy approaches are potential tax changes, alignment with the rising gen on shared giving goals, changes in philanthropy practices, like collaborative giving, the increased pace of capital spending and pre- and post-liquidity philanthropy planning. During this webcast, panelists discussed the elements above and provided advice on how to develop an intentional and well-rounded philanthropic plan for the future.
Good meetings are a critical block of effective, impactful, and not least of all, enjoyable family philanthropy. This guide explores giving families' strategies, tips, and tools used to ensure that their meetings are also gatherings that family members look forward to. Constructive templates are also provided to help you think through the key nuts and bolts of designing and running a great and enjoyable meeting. When done well, meetings are an opportunity to build shared meaning and deeper relationships within and beyond families.
FOX Philanthropy Resources
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Document Contains Resources for: Getting Started, Current Trends, and Navigating Generational Differences
Just as government and businesses require sound governance to do their work well, so too do families—and their philanthropy. The Family Governance Pyramid provides a model and framework for philanthropic families that is even more relevant and necessary today than when it was first introduced nearly two decades ago. This article by the National Center for Family Philanthropy provides some perspective on why, and how, families can apply this model to their family and philanthropy, for the good of all.
Finding a way to facilitate trust, communication, and proper preparation and development of the necessary skill sets of the next generation can be difficult and will vary from family to family. Today, many families are finding answers to these questions through a private family foundation. If you’re thinking about staring a family foundation, here are considerations to help guide the setup, as well as potential benefits for your family and the long-term preservation of your family’s wealth.
Five Cultural Shifts Forever Changing Giving
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In this webcast, Carrie Morgridge, Chief Disruptor of the Morgridge Family Foundation (MFF), and Terry Young, Founder and CEO of cultural consultancy group sparks & honey, will share five cultural shifts changing giving. The five cultural shifts were discovered through a survey titled The Future of Giving that MFF and sparks & honey produced in collaboration.
2021 FOX Foresight - Family Philanthropy’s New Era
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History will remember 2020 as the year society’s pervasive challenges roared. Two philanthropy experts discuss what they saw in 2020, and what they hope will last for years to come. FOX Foresight keeps you up to date on our latest thinking about matters affecting Enterprise Families. It gives you our forward look on what we're learning from our members and subject matter experts. Please share it broadly with your family, your office, and your advisors
Putting the "Family" in Family Philanthropy
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For many individuals, philanthropy is one of the more gratifying parts of estate planning. Adding in a multigenerational component—one that involves the family’s needs, interests, assets, and goals—can make it even more meaningful and compelling. With the focus on the family and through open channels of communication, philanthropy can be an excellent vehicle for transmitting family values and working together.