How to Begin Your Family Philanthropy
How to Begin Your Family Philanthropy
A guide for families who want to make a positive impact in the world
At Central Florida Foundation, we specialize in guiding families through multigenerational philanthropic planning, facilitation, and education. We understand the unique dynamics and opportunities that arise when those who are already community-minded look to engage with their loved ones in collective giving or when leadership and decision-making responsibilities transition to the next generation at a private family foundation. Our goal is to equip your family with the tools, confidence, and alignment needed to ensure your family’s lasting impact.
What is family philanthropy?
Family philanthropy means giving money, time, or other resources to help your community – as a family. With this charitable giving approach, you create actionable positive change from your family’s shared values while also strengthening your family’s bond.
With more than three decades in Central Florida on a mission to build community by building philanthropy, we deeply understand the complexities and rewards of family philanthropy. We’ve successfully supported numerous families in private foundation transitions and those looking to engage family around a charitable fund giving plan. In both scenarios, we’ve helped families navigate sensitive conversations, built trust, and developed collaborative frameworks for giving. Central Florida Foundation serves as a trusted partner, guiding a thoughtful approach to philanthropy that goes beyond the mechanics of giving to intrinsically understand the purpose behind it.
Why engage in family philanthropy?
There are many good reasons to engage in philanthropy together, such as:
- Amplify the impact of your family’s next generation
- Foster strong family bonds
- Create a family legacy that lasts for generations to come
- Compound your giving impact through collective charitable investment
How do I begin this process?
Starting family philanthropy can be a rewarding experience, but it also needs planning and preparation. Here are some steps you can follow to get started:
1. Find your collective values and goals.
It’s important to begin with clarity around your values and goals. What are the problems that you and your family want to solve? What are the results that you want to see? How will you know if you are successful?
Developed by nationally accredited giving experts, Central Florida Foundation’s GenerUS family philanthropy approach offers a navigable and customizable path to developing your family’s charitable giving, with the GenerUS workbook being the first step.
Start this process with our complimentary GenerUS workbook.
Like your family, your GenerUS strategy is unique. Philanthropy means something different to everyone, and we’re here to make sure your whole family feels great about giving back. As you work through the planning process, we will help your family work together, learn more about each other and uncover your common interests. Together, we will set goals everyone can get behind.
The GenerUS planning will focus on three critical areas:
- Impact Fueled by Engagement
- Vision Defined by Values
- Strategy Driven by Priorities
2. Develop your giving plan with philanthropic experts.
A giving plan is achievable when you have the right partners by your side.
Central Florida Foundation’s team of philanthropic experts focus on collective values and charitable goals, crafting personalized giving plans that take idea to action. At CFF, we focus on the why, exploring traditional and creative solutions that drive change and foster a meaningful experience for you and your loved ones. From one-hour consultations to two-day family retreats, we offer a customized way to turn your goals into actionable steps.
Start the conversation with CFF’s VP of Philanthropic Strategies and Partnerships, Nicole Donelson, by simply filling out the form below, by phone at 321-966-2588, via email at ndonelson@cffound.org.
Nicole Donelson, CAP®
3. Re-evaluate on an annual basis.
Engage in annual family reviews. If your family decides to establish a charitable fund with us, we offer annual fund reviews that serve as the perfect place to evaluate the past year and decide if changes need to be made. If your strategic plan does not include establishing a charitable fund, we encourage meeting with your family at least once a year to evaluate how the past year has gone and making any necessary changes for the next.
The Takeaway
Family philanthropy can be an impactful way to highlight your family’s values, foster closer family bonds, and make a positive difference in the world. Whether you’re looking to start your family’s philanthropic journey, engage family around a charitable fund, or are planning for a transition with your family’s private foundation, Central Florida Foundation is a trustworthy, professional partner that can take your goals and turn them into a reality.
About Central Florida Foundation: As our region’s community foundation, Central Florida Foundation serves as a launchpad for high-impact philanthropy. Championing the collective power of head, heart and dollar, we coordinate the commitment and investment of philanthropists, nonprofits, and community partners to target today’s most critical challenges and those on the horizon to truly transform our community. The Foundation also offers expert giving advice, a personalized approach to managing charitable funds, and the capacity to convene collaboration across sectors. Learn more at cffound.org.
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