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The Power to Produce Wonders: The value of family in philanthropy

Virginia Esposito

The passionate generosity of countless American families has inspired – and continues to inspire – extraordinary gifts. Indeed, we may know many of these families more by their philanthropy than by the business successes that made their largesse possible. What is most remarkable is the very phenomenon of American family philanthropy itself. An astonishing number of families make record-setting, private contributions and volunteer countless hours on behalf of the causes and communities they care deeply about. Many have done so over multiple generations. They have enriched the lives of millions not only in this country but around the world.

Yet, precious little is known about the value private family philanthropy represents in our society and the essential role it plays in our democracy. It would be easy to dismiss this as just one more thing that the media or Congress doesn’t understand. But the fact is that the contributions and potential of family philanthropy are not well understood even by many of those engaged in the practice or by the millions and millions of Americans who benefit from charitable gifts.

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