Giving Compass' Take:

• The author discusses the roles of family philanthropists and the power and legacy they hold if they are able to encourage their children's philanthropic spirit at an early age. 

• How can family philanthropy help other types of philanthropists understand relationship dynamics? 

• Read the Giving Compass Family Philanthropy Guide and learn more about the inner workings of family philanthropists. 

Family philanthropy is a time-honored tradition that was largely set into motion by the patriarchs of some of America’s old-money families, including the Rockefellers and Astors. That tradition continues but now it’s more often being directed by the women of the household, and they have a very different approach.

When women are leading the charitable charge, a family’s philanthropic work is likely to become more a way of life than a matter of simply writing checks.

Women are, in fact, the decision-makers about philanthropy in 90 percent of high-net-worth U.S. households, according to U.S. Trust. Furthermore, the firm’s research shows that women tend to establish closer ties with the organizations that get their money. That kind of involvement often leads to mothers serving as role models to children who ultimately take their lead.

Philanthropy is legacy that Jean Shafiroff shares with her two adult daughters, and she authored the book Successful Philanthropy: How to Make a Life by What You Give (2016) about her own experiences and how to get involved in charity work.

“The great thing about the philanthropy world is that it’s like a huge room, and each family member can find their own door,” says Gillian Howell, a national philanthropic consulting and advisory executive at U.S. Trust who has been guiding families through the complicated art and science of giving together and separately for the past 28 years.

“They [children] can save loose change for causes or donate holiday gifts to homeless shelters from a very young age,” she advises. The idea is to tap into what she calls “time, treasure, and talent”—or what the kids like to do, what they value, and what they’re good at.

Read the full article about family philanthropy by Jan Alexander at Robb Report