Philanthropy continues to wield disproportionate power today. However, a more nuanced conception of shared power has emerged and has spurred an increasing number of funders and ecosystem partners to become more open about the inequities of and within philanthropy. With the goal of moving the practice of philanthropy away from its inequitable origins and practices, this report provides insights and conceptual frameworks and actionable resources that can enable funders to create equitable processes and practices.
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Governance, a system for who will make decisions and how, is the guiding framework for your family philanthropy’s long-term success. There are many governance constructs that support an effective board, and different methods to engage family within each construct. But what are the common elements that contribute to an effective board across all governance constructs? In this webcast, learn the “nuts and bolts” of good governance. For more on this topic, watch the short video on strengthening governance and family dynamics.
For your philanthropy to be meaningful and effective, it is important to define, refine, and periodically revisit your philanthropic purpose: to understand your motivations for giving, the collective values that guide your philanthropy, and establish clarity around the various priorities and approaches your family will utilize in its giving. Through this worksheet and interactive program session, learn how to refine the “why” behind your philanthropy and connect your philanthropic purpose to the broader change you wish to see in the world.
Persistent inflation and high interest rates have driven up costs and negatively affected charities. As a result, taking an efficient, tax-smart approach to maximizing donor impact has never been more important. Here are 12 ways to increase donor impact and potentially reduce taxable income in 2023 and beyond.
While nearly 90% of affluent households participate in charitable giving, just 27% have received formal guidance around philanthropic matters. This disconnect means there’s a unique opportunity for advisors to deliver philanthropic support as part of a balanced and holistic wealth management solution. From this webcast and presentation, learn about:
At the most basic level, the difference between a donor-advised fund (DAF) and a private foundation is the construct, or form, in which each entity is created and operated. Because a private foundation is a freestanding legal entity, and a DAF is an account, the two charitable vehicles offer very different levels of control, authority, and philanthropic versatility. For families considering which charitable structure to form, this side-by-side comparison is a helpful guide. And it turns out that form does dictate function.
Because nearly 90% of all foundations are set up with the intent to exist in perpetuity, their success depends on their ability to prepare for and manage change. The challenge isn’t merely a transition, but also the internal stress of balancing the energy and engagement of new blood with the experience and traditions of its senior members. Based on over a decade of experience supporting over 2,000 foundations, this booklet provides pertinent discussion points for each of these common transitions and what to consider at each juncture.
While it might seem like a great position to hold a concentrated position in a low-basis stock that has appreciated over time, it poses several challenges related to investment risk and taxes. Here are some charitable options for lowering your risk while doing the most good with your gains, whether that means giving to a worthy cause, gifting to a family member in a lower tax bracket, or both.
Using charitable giving strategies to enhance the tax-efficiency of your donations plays a vital role in maximizing the impact of your gifts. To make the most of your charitable gifts and achieving high-impact philanthropy, take the time at year-end and during the year to review these giving strategies that include different ways to give, knowing and understanding gifts that protect assets and pay income, and giving from other entities such as donor-advised fund gifts.
Families are reconsidering their motivations for giving and how their philanthropy carries forward their values, aims, and objectives. It’s promoting deeper intentionality, humility, empathy, understanding, and trust. These shifts are prompting families to reflect on what they seek to build now and how it informs their legacy. It’s imperative to shift legacy from a reactive construct to an emergent one that serves as a guide and measure of accountability.