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Family connectedness, not money, has the greatest influence on multi-generational family continuity. But when many think about legacy, it’s often in the context of multi-generational financial wealth. Money, though, masks what people are really interested in passing to future generations of their family.

Much has been written comparing the administrative, financial, and programmatic criteria of private foundations and donor advised funds. It is often presented as an “either/or” choice. It’s important to know that the two can be used in tandem to achieve complementary goals of families and other donors. Some examples are illustrated to show how it can be done.

For the majority of Americans, the tax overhaul has altered or reduced many of the financial incentives for making charitable donations. But charitable giving is rarely driven solely by the desire to trim tax bills. In fact, most individuals and families give for a variety of reasons and support organizations in whose missions they believe. Still, 18 percent of donors primarily make gifts to receive tax benefits. As this new tax era ushers in, it is an ideal time to examine why you give as well as the vehicles you use to give.

Cyber risk has become a major potential loss exposure for almost any company. As with any other exposure, directors should confirm that reasonable steps are taken to identify, mitigate, respond to, and recover from third parties relating to cyber-related problems when they arise.

Two common charitable giving vehicles are donor advised funds (DAFs) and private foundations. A DAF is an account housed in and governed by a public charity. A private foundation is a standalone trust or nonprofit corporation that qualifies as a tax-exempt organization. Both DAFs and private foundations feature the ability to engage family members in philanthropy and create a family legacy. Both offer unique features and benefits, which you should carefully review if you are considering these options.

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.