It is estimated that by 2020 between $400 billion and $1 trillion dollars will be invested through impact investing. Clearly this new approach to influencing positive social and environmental changes has far-reaching implications.
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Why are some families able to pass the legacy of philanthropy from generation to generation while others are not? This white paper by Claudia B. Sangster, director of Philanthropy Services with Harris myCFO, LLC, looks at how to encourage the next generation of givers.
The most successful family foundations are strategic about how money is given away, to whom it is given and for what purposes, and in evaluation of the programs funded and the role of the funder. This paper examines eight strategies that distinguish the most successful family foundations from the least successful ones.
In a family enterprise - particularly in a multigenerational family business - the company is often the dominant aspect of the family's identity. Adding a philanthropic track to the enterprise not only creates a significant return on investment in terms of the company's relationship with its customers and employees, but also can affirm the core values of the family.
Grant-making used to require the manual distribution of information, but now grant program administrators can receive, organize, manage, and distribute applications online. The author highlights the benefits of application management systems and provides guidance in selecting the right system for your organization.
One of the most important aspects of a family’s legacy planning can be philanthropy. Family philanthropy can be thought of as the organized charitable giving by several members of a family to achieve a unified goal. It is more than the annual giving of one individual or married couple, though such giving is critically important in its own right. Perhaps the key distinguishing feature of family philanthropy is the presence of a larger collective vision.
Estate planners who help their clients become more strategic about philanthropy in their legacy planning strengthen relationships with clients and their heirs and significantly increase the likelihood that their clients’ charitable distributions will align with their interests and be more effective. Whether creating a new estate plan or revisiting an existing one, when discussing philanthropy there are certain topics advisors should consider incorporating into every conversation.
This paper offers a practical look at how an individual or family might plot a successful road map that aligns and grows with their unique abilities, needs, and personality. The authors detail the steps in a philanthropic asset allocation process involving fact-finding, planning, and continuing assessment as seen through the eyes of three hypothetical clients.
Investors and advisors focused on wealth growth and preservation may see environment, social, and governance/socially responsible investing as taxing a portfolio's performance. This paper offers a framework with associated metrics for assessing ESG/SRI integration into the portfolio with the same rigor and discipline used in all other fiduciary decisions.
To help families meet their philanthropic goals and make a measurable difference, in this 2011 FOX Fall Forum session the speaker recommends allocating charitable dollars much the way an individual would allocate investment dollars.