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If you are a newer family foundation with one or two generations on the board, five generations may seem like a long time away. Yet in family philanthropy, quite a few foundations have been operating and thriving for 50, 75, even 100 years. What’s the secret of these family philanthropies that make it five generations, and across family branches? How do they successfully attract and engage younger family members? Learn from what other thriving family foundations have done—and continue to do—to sustain a successful long-term family philanthropy.

Private foundations assessing the impact of the tax reform legislation (HR1) signed into law on December 22, 2017 should look beyond the private foundation-specific proposals that were not included and assess the impact of provisions affecting all tax-exempt organizations. For some private foundations, the list of key items may include the new excise tax on organizations with highly compensated employees, segmentation of unrelated business taxable income (UBTI), and changes to employer provisions for qualified transportation fringe benefits.

For a majority of impact investors, impact investing means seeking a general or specific environmental, social, or governance outcome, in addition to a financial return, from their investments.

Impact investments can be made in all corners of the world, in frontier and emerging markets, developed economies and our local neighborhoods. When successfully implemented, impact investing can potentially produce a sustainable pool of capital that can work for generations, as well as help align financial capital with your passions, beliefs and objectives.

The United States is home to tens of thousands of family foundations that have and continue to make positive contributions to society. It’s also not uncommon for the foundations’ boards of directors to play a leading role. Reflecting on the philanthropic journey and the family engagement and ties at the heart of it, here are seven profiles that present the philanthropic practices and structures of multigenerational family foundations that created lasting legacies of impact.

The term “Outsourced Chief Investment Officer” (OCIO) has gained popularity in the investment industry as investment consultants, banks and small wealth management firms are now offering OCIO services to foundations, endowments and nonprofits. You may be considering this model instead of the self-managed or consultant model used in the past. To help your organization evaluate potential OCIO providers, we recommend taking the “T” test.

For a number of philanthropists, philanthropy is a family affair: a means of passing on key values to the next generation as well as giving back or doing good. How are millennials in family foundations, with the weight of legacy on their shoulders, approaching philanthropy? This fascinating generational shift is explored in more detail in this new report.

Wealth amassed by affluent individuals is being channeled into family foundations, increasingly led by millennials. They sit at the crossroads between the forces driving the millennial generation and the weight of their families’ legacies. They want their financial resources to achieve the greatest possible impact. They question why all their investments weren't impact investments.

A foundation is a powerful platform through which families can address the challenges in society about which they care about most. Yet, most families only use a small portion of their foundation assets to pursue their philanthropic missions. As families grapple with the scale of funding solutions to the world’s toughest challenges, many are turning to impact investing as a powerful tool for maximizing a foundation’s assets for good.