Planning Effective Family Philanthropy

Colony Family Offices, in collaboration with Grant Philanthropic Advisors, recently hosted a discussion focused on planning effective family philanthropy and preserving philanthropic intent across generations.

The discussion highlighted the importance of documenting a founder’s values, goals, motivations, and giving philosophy while they are still living. Clear donor intent can provide future generations with a shared understanding of the family’s philanthropic purpose, while still allowing flexibility as community needs and family priorities evolve.

Key takeaways included capturing donor intent through written, video, or audio records; distinguishing between flexible guidance and firm directives; and incorporating philanthropic values into annual practices, family rituals, board materials, and foundation communications.

Families may benefit from working with their advisors to consider these recommendations and develop a thoughtful approach for carrying forward their philanthropic legacy.