So you want to be a family philanthropist?
Philanthropic donors, families, and those who work with them interested in understanding the questions to ask when deciding between a private family foundation and a donor advised fund for family philanthropy.
Sometimes philanthropy is done purely for altruistic reasons, but often there are other motivations. Donors with an interest in engaging their family in shared philanthropy must carefully review both the tax implications and administrative costs of the charitable vehicle(s) they consider, as well as the degree of control and influence they wish to retain for years, and perhaps generations, to come. It’s not always an easy choice! What are the questions that donors should ask to determine the best vehicle for their hopes and needs? How do families reflect on their philanthropic goals and their family goals to determine how best to structure their giving? This webinar features long-time family philanthropy advisor and author Julia Kittross, as well as two donors who came up with different answers to the question of what vehicle was right for them.
Kathy Edwards is the co-founder and current Board President of the Cedarmere Foundation, based in Seattle. Kathy has an extensive background in finance and worked as a governance and leadership consultant to nonprofit organizations for 20 years before retiring in 2005. She has also been involved in commercial real estate management and development. Kathy serves on the Board of Washington Women’s Foundation and the Planned Parenthood of the Great Northwest, and is a member of PATH's Development Committee.
Julia Kittross is the author of So You Want to be a Philanthropist and co-founder and principal of Philanthropy Sherpas. Julia has more than 35 years of experience in philanthropy as a teacher, adviser, organizer, program designer, manager, grantmaker, CEO, and entrepreneur. I have worked with hundreds of trustees, donors and staff of private foundations, individual philanthropists, public and community foundations, and corporate grantmakers. My experience ranges from start-up bootstrapping to organizational management. Career highlights include working as the first full-time CEO of Philanthropy Northwest (a multi- state regional association of grantmakers), founding partner of The Giving Practice and Executive Director of the Laird Norton Family Foundation.
Julia is one of a small group of consultants trained by the National Center for Family Philanthropy to lead family foundations through its Pursuit of Excellence Assessment. And I am also a Senior Fellow with The Philanthropic Initiative in Boston.
Sue Miller is co-founder of the John and Susan Miller Fund, established in 2013 at The Oregon Community Foundation. Sue currently serves as the OCF's chair of the board. In addition to serving as Mayor of Salem from 1983-88, Miller was the executive director of Family Building Blocks from 2001 through 2012, and has won many awards for community service, including the Athena Award from the Statesman Journal and the White Rose Award from the Oregon March of Dimes.
What participants said:
The information provided on how to engage younger generations was very relevant and invaluable. Additionally, I appreciated the advice on how to approach philanthropy by determining what you want to accomplish, then identifying the proper vehicle through which to do so.
I gained an understanding and acceptance that the family members of different generations interest and availability changes over the years.
The webinar presented me with some things I had not thought of. It should help me decide what form my giving should take.
The webinar provided useful and candid examples. I learned about staying true to mission, how much to expect of family members and how DAFs are very efficient and probably better in most cases.