How does today’s social impact culture affect the way you engage your children and grandchildren in your family’s philanthropy? Three strategies can help you build a bridge to your family’s future philanthropic leaders.

  1. Clarify, communicate, and celebrate your vision: Make sure your family foundation’s records include the reasons for grantmaking and the underlying passion that started the foundation to begin with. Celebrate your foundation’s story and vision statement so that family members see it and hear it frequently.
  2. Check it out, online: With information readily available at anyone’s fingertips about nonprofits and their programs, your opportunity—and responsibility—is to be familiar with what’s out there. Look beyond the reports submitted by grantees to determine how impact and outcomes are being reported on the websites of the nonprofits your foundation supports.
  3. Make impact your agenda: Your family foundation’s meeting agendas need to go beyond just the traditional check-the-box legal and financial matters. Focus on social impact and the important role of your family’s philanthropy to enrich the lives and wellbeing of your children and grandchildren, as well the lives of real people in the communities you support.

Read the full article about social impact in family philanthropy from Exponent Philanthropy at The National Center for Family Philanthropy. 

To read more by NCFP, check out their Family Philanthropy magazine on Giving Compass.