5 Tips for Engaging in Family Philanthropy
May 25th, 2019
In an article published by Legacy Capitals titled, Engaging Families in Philanthropy 3.0, we write:
When people think of philanthropy, they typically envision affluent people writing large checks to nonprofit organizations, but the true scope of philanthropy has far greater impact and complexity. Etymologically, the word philanthropy refers to the love of humanity or promoting the welfare of others. Clearly, philanthropy is not just for ultra high-net-worth families, and it is not limited only to the transfer of financial capital.
When we think of philanthropy as giving and sharing with others, it allows us to embrace a much more complex model that includes more than just financial capital. We can engage our philanthropy across all the capital areas: financial, intellectual, social, human, and spiritual.
The article goes on to provide 10 tips or next steps for families of which here are 5 of them:
- Engage younger generations by giving them a voice.
- Create, refine, or review your statements of Values, Mission, and Vision.
- Make a statement about the cause that is clear and concise. For example, “We want to wipe out childhood hunger in the region.”
- Research the problem you want to solve.
- Continually assess progress and adjust plans as necessary.
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