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Philanthropic strategists often work closely with families to help them establish, refine or refocus mutigenerational family foundations and donor-advised funds. Some of these families enjoy long histories of open communication across the generations – about money, values and charity. Many others, however, find these topics extremely difficult to broach.
Multigenerational family philanthropy creates a unique opportunity for every family to set a new table so that all adult and young adult family members are invited to sit, share, develop and act upon common values and goals around money and philanthropy.
- The first step to setting a new family table and creating a “safe zone” is to jointly establish new ground rules.
- The next step is to determine a common purpose for the family‘s philanthropic endeavor.
- Creation of a good mission statement is the next step in setting up a “safe zone” for family philanthropy.
Following these three steps to creating a “safe zone” makes it much more likely that the family’s philanthropic efforts will succeed.
Read the source article by Bruce DeBoskey about family philanthropy from at ncfp.org