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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.
NCFP’s forthcoming Passages Issue Brief Thrive at Five: The Secrets of Long-Term Family Philanthropy features family foundations that have made it to their fifth generation (or who are well on their way), and the top 8 secrets they shared for holding a family foundation together over time.
Want a sneak peek of one of these family secrets? Read below.
“For us, what has made all the difference, is time together,” says Lisa Parker, president of the Lawrence Welk Family Foundation. “We fund in Southern California, and getting into the multiple generations, we wouldn’t otherwise know our cousin’s kids that live in Montana. The foundation meetings and the family reunions every year allow our family to nurture those relationships. We allot time for each other, and have a structure that supports the family growing together.”
“Sharing stories and videos has been pivotal for our family. It’s brought us together in a new way, and given us a new sense of shared history,” says Parker. “Celebrating history has gelled the generations.”
Read the full article about story-sharing in family philanthropy by Elaine Gast Fawcett at The National Center for Family Philanthropy.
To read more by NCFP, check out their Family Philanthropy magazine on Giving Compass.