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| Building Your Family's 100 Year Plan: The Series |
100 Year Plan Part III: The Practice of Charity
Brett Anderson and Thomas M. Kostigen
02/02/2004
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Determining into which of these categories our relatives or we fit requires only a little introspection. If we find our contributions tend toward schools our children or we have attended, we are probably supportive but not passionate about them. But if we donate money or time regularly to a specific area—say, for instance, education—and continually seek out organizations conducting research in that field or advocating reform, we may be advancing along the path toward becoming venture philanthropists. Whereas the collective efforts of multiple members drive the former, the will of a single individual usually defines and controls the latter.
The two categories, however, are not mutually exclusive: Many of our families include elements of both. The differences lay largely in the ways in which we relate to the charity or charities in question, as well as in the structures we put in place to organize and account for our giving. Understanding our short- and long-term objectives—whether these emphasize a specific social problem, a disease or cultural endeavor—enables us to better frame our charitable programs within the context of an overall 100-year plan. The logistics of a well-formulated plan can be daunting to some, and will inevitably require that family members refer back to their mission statement (see "Who We Are: The Family Mission Statement," December 2003). But whatever the particular objectives, certain general guidelines to organizing the family’s philanthropic mission apply.
The Right Vehicle
The majority of us view philanthropy as one reflection of ourselves, yet we also recognize its critical implications in shaping the characters of our children and their children, as well as those of the communities in which they live. Choosing the appropriate vehicles around which to structure our giving is perhaps as crucial as the choice of charity itself, since without the correct instrument, the gifts will, over time, potentially fail to reach the intended recipients.
In doing so, we should consult a qualified advisor—someone who understands the context of our family missions and with whom we have a dialogue—in order to establish our family goals. These discussions should occur before we arrive at any final decisions. As Steenhuysen notes, drawing up and signing the papers is rather like joining the military: Once we are in, and the papers are signed, most of the decisions have been decided for us. "There’s a lot of flexibility in this field," he says. "But unfortunately, most foundations are set up by law firms who are cookie cutters. It’s the Model T—pick any color you want as long as it’s black. So coming up with a strategic plan for your philanthropy—a 100-year plan—is so important to making sure your philanthropy is effective."
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