Engage younger generations. A great way to get started with this initiative is to invite Rising Generation family members to have a voice, which doesn’t necessarily have to translate to a vote, in philanthropy matters.
Create, refine, or review your family Values, Mission, and Vision statements. Families often find that establishing these shared statements increases interest, engagement, and family unity.
Identify a cause(s) that you want to address. We recommend starting with 2-3 causes that are especially important to your family. You can begin by having each family member identify a few causes they are interested in or passionate about and then use that list to identify causes that resonate with the whole family.
Make a statement about the cause(s) that is/are clear and concise. For example, “We want to wipe out childhood hunger in this region.” This effort will help your family maintain focus on your goal.
Research the problem you want to solve. Connect with other donors and organizations who are already supporting this cause – they can direct you to resources that will offer education and other contacts.
Consider the key stakeholders affecting the problem you want to fix. Engage the family (and foundation staff, if applicable), and your community partners to discuss best approaches to tackle the issue.
Engage other organizations and individuals to help you carry out your agenda. Building a team of experts, and expanding your connections within the world or philanthropy, will allow you to more efficiently and effectively accomplish your goals.
Create a collaborative plan. This plan should engage all of the organizations and individuals that you have enlisted to help you carry out your agenda. Lean into the family members or staff members that are skilled at arranging and managing processes to help you stay on task and accountable to your goals.
Continually assess progress and adjust plans as necessary. We recommend having one formal in-person meeting annually and supplementing with shorter meetings quarterly to assess progress and goals.
Consider bringing in an external facilitator. A facilitator will help your family stay on track by guiding family discussions about setting or reviewing the direction of your family philanthropy.
We work alongside your trusted financial advisors, family office, and professional advisors, never in place of them. Legacy Capitals does not provide financial, legal, tax, estate, investment, or risk advice.