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.
Philanthropic Governance
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Demystifying Decision Making in Family Philanthropy
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This issue brief examines the kinds of decisions that family foundations often face and sets out practical, easy-to-apply guidelines for ensuring that the foundation’s decision-making methods vary appropriately, as conditions and circumstances change.
The Philanthropy Framework
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Across the world, philanthropy is undergoing a transformation that offers both exciting opportunities and complex challenges. With so much in flux, emerging donors and established funders are seeking new models not only for funding strategies and impact measures, but also for organizational design and management systems that will serve them well into the 21st century.
Defining the Terms of Purpose-Built Philanthropy
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As high-net-worth investors discuss plans for charitable giving and investing with their financial advisors, it is absolutely crucial for them to be on the same page in terms of the outcomes desired, both financially and philanthropically. For this reason, advisors and their clients need a set vocabulary of terms going into the first meeting. Only then can they discuss goals (and ways of achieving them) without stumbling over communication roadblocks.
The act of giving through family philanthropy can be a transformative experience for both family members and the communities they serve, sometimes with an impact that lasts generations. However, achieving a positive, enduring impact requires purposeful vision and decision making throughout the lifespan of the family's philanthropic work. With the deep experiences of philanthropic families and advisors showing the way forward, the roadmap to meaningful giving can be made easier and more effective.