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Family based philanthropic giving is a noble pursuit in which families can engage in multi-generational advocacy for charitable causes. Family based giving is a way for the elder generations in a philanthropic family to establish a tradition of advocacy and guide members in the younger generations through the important points of responsible, effective charitable giving.
Some families may establish a grantmaking strategy in which they seek to improve or aid a certain cause, effort, or real world scenario such as hunger, homelessness, environmental issues, medical research, literacy, or human rights. Instituting a family tradition of grantmaking on a multigenerational family level is a way for families to build future support for causes they consider to be of great significance.
We’re experiencing an interesting segment in the historical timeline of charitable giving. Family members born after 1980 are projected to have significantly more donation ability and more donation options than previous generations in their family. With a far-reaching hierarchy of charitable organizations actively benefiting a comprehensive range of causes, families interested in philanthropic activities have no shortage of donation options. The more seasoned and experienced members in each family can mentor and guide future generation through the nuances of philanthropic work, establish their family’s philanthropic vision, and help them identify their own areas of emphasis and issues for individual advocacy.
Family philanthropy is defined somewhat more loosely than Individual Donations or Corporate Philanthropy. The specific manner in which charitable donations are made in a family philanthropy is defined by each specific family, so the manner in which families donate is often as unique as the families themselves. However, there are a few characteristics commonly observed in philanthropic families. Generally, there is hierarchy of family members, often with the eldest acquiring the wealth from which donations are made, and establishing a direction for the family’s philanthropic work. Families may establish a foundation with bylaws or guidelines for how donations shall be made. Allowances may be made for individuals in the family to personally focus on different causes that are important to them, while generally all supporting some broader overarching philanthropic goal.
Walters Family Foundation is itself a family foundation based on a financially sustainable donation model. We’re a unique resource for your family to consider for charitable gifts because we have the ability to grow your gift through intelligent investment so that your family’s impact is felt in magnitudes significantly larger than the size of your base donation. Through this process, your donation can continue giving to charitable organizations perpetually. We understand the goal of your family’s philanthropic efforts is to establish a legacy of charitable giving and to help causes important to you on a long term, multi-generational level. By contributing to our financially sustainable efforts to aid charitable organizations, you’re choosing an efficient and financially responsible outlet for your families philanthropic efforts.