The challenges and opportunities of multi-generational giving
Giving habits vary dramatically with age, with the next generation of donors increasingly incorporating new elements such as impact investing. Giving as a family gives you the opportunity to combine experience with the fresh perspective of a younger generation. In order for all members to feel engaged, it's important to communicate openly and ensure all family members have a say. Putting governance structures in place, for example 'generational committees', can be valuable.
It's often a good idea to regularly revisit your family's giving strategy, to ensure it remains relevant in the context of evolving social needs and environmental pressures.
Many family trusts and foundations allocate a defined amount of
funding for more ad-hoc giving that comes straight from the heart,
supporting causes and charities that may not necessarily meet the wider strategic objectives of the family foundation. Many family members
find this is a useful way to remain engaged.
Read more on adopting a multi-generational approach to your giving