Applying a broader parameter—one without a reference to age and with deference to each individual—the next generation philanthropists are people who see themselves as descendants rather than ancestors, who want to use their wealth to be of service to others.
Both new and experienced donors have become far more thoughtful about the time frame of their giving. And setting a use-by date for philanthropy has become a common consideration. Effective giving usually relies not just on how to decide to give, but for how long.
Through the evolution of the family journey, it’s clear that family structures have become more complex and estate planning needs to shift to a new model that focuses on multiple aspects of wealth.
This guide reviews various ways to assess philanthropic impact. It looks at what assessment can accomplish and what it has difficulty measuring. It sets out a series of questions donors can ask as they consider how to proceed with their philanthropy.
In a time of increasing social and economic challenges, this guide offers both emerging and established donors a look at important questions and issues faced.
This guide is designed to introduce you to the world of thoughtful, effective philanthropy. It’s a roadmap for donors—individuals, couples, families, or groups. It offers an overview of issues that philanthropists may want to consider as they create their own giving strategies.
Craig Witcher - Family Office Services, BDO USA LLP
Wednesday, March 18, 2020
Many families have an interest in, and questions about, developing financial literacy in their rising generations. Financial skills and knowledge can be taught and reinforced through experiential learning.
