Here are several ways to prepare children and teens for foundation giving. Invite them to board meetings Make younger family members feel like part of the group by inviting them to see how the foundation works. Keep in mind that board meetings can be tedious for some kids, especially younger ones. They don’t necessarily have... Read More
Preparing your next generation to participate in a foundation goes beyond understanding the financial responsibilities of foundation giving. Hear the following recommendations from a foundation trustee—based on his personal experience—about preparing the next generation for board service. Several years ago, my family divided our family foundation, The Jules and Doris Stein Foundation, into four equal... Read More
Kylie, age 9, writes: Last year was such a great year. The board approved my grant request for Project HELP, and I presented a session called “Youth on Board” at the Exponent Philanthropy National Conference. I was the youngest person to present at the conference. I got to answer questions and even get interviewed afterward.... Read More
“For those who have already begun to involve next generation family members,” says Sharna Goldseker, who works on multigenerational strategic philanthropy at the organization 21/64, “you probably have also experienced how the very act of involving the next generation changes the character of the foundation itself. The questions the next generation brings, language they use,... Read More
As one 20-something involved in her family’s philanthropy shared: [It] has given me the perspective that doing good can really be a lifestyle and not just a one- or two-time event. I think that, once you catch the bug of doing good for the world, it doesn’t just stop with philanthropy. It molds the way... Read More
Five years ago, Sy Schwartz announced to his three grown children in their fifties that he wanted them to start giving money away. He would supply the family foundation with $175,000 for them to give collectively. If they did a good job and got along well, the money would increase the next year. Schwartz was... Read More