About this collection: This Content Collection features stories of families who have found successful ways to engage the next generation and youth in family philanthropy, as well as sample policies on next-gen and junior boards, and tips for activities appropriate for sharing the value of family philanthropy with next-gen family members.
Most philanthropic families say they want the next generation at the table. Yet how do new trustees develop their personal values and ideas to contribute to the discussions? And when and if the next gen has a sense of how they’d like to give, will the …
According to BoardSource, one of the most respected authorities on boards and governance, the answer is “It depends:”
“...when it is possible, the rewards usually outweigh most of the concerns. A few states do not allow young people to serve on boards, and many states have laws prohibiting minors to sign binding contracts. Before inviting young people to serve on your board, verify whether your state has an age limit for board members. Even if your state law prohibits minors from serving as full members of the board, there are many ways to benefit from the ideas and perspectives that young people bring. You can ask them to serve as nonvoting members of the board, to become members on an advisory council, or to chair a committee or a special event.
If you decide to invite a minor to serve as a board member, keep these points in mind:
Provide adequate orientation or assign a board mentor.
Avoid electing minors as officers in charge of financial matters.
When the law prohibits it, don’t allow minors to sign binding contracts for the organization.
Provide D&O insurance for the entire board, but be aware that some policies may exclude minors.
See Policy Central: Engaging Next Gen and Extended Family for a variety of policies and practices for creating and managing next gen and junior advisory boards.