Navigating your Family's Philanthropic Future Across Generations
Principal Findings and Outlook
Principal Findings and Outlook
Family Philanthropy Navigator The art of successfully navigating family philanthropy comes with practice. The beginnings or transformations of any project or venture might seem overwhelming and difficult. It is no different in family philanthropy. To facilitate this process, we have developed a practical tool for family philanthropy, the “Family Philanthropy Navigator.” Thanks to our extensive research and experience in this domain, we have identified three core pillars of a philanthropic journey − purpose, relationships and organization ( see Figure 9 ). Despite the fact that each journey is unique, there exists a common denominator in each. Each pillar of the navigator consists of crucial elements with supporting questions to facilitate reflection. The aim of the navigator is simple: to provide a one-stop, practical and interactive, step-by-step pathway that can be used by any novice or experienced philanthropist. It will enable them to begin or improve their journey in giving, no matter what their circumstances, resources or ambitions. This tool and the guidelines on how to use it are featured in our book “Family Philanthropy Navigator”. ¹ Figure 9 : The core pillars of a philanthropic journey
Purpose The first pillar of the Navigator is purpose. Purpose helps to create meaning in giving. A purpose offers philanthropists a sense of direction and helps guide their paths, behaviors and goals. A purpose frames and strengthens one’s philanthropy and serves to unite and motivate a family. A clear purpose for either novice or seasoned philanthropists can serve as a compass that informs and drives philanthropic decisions and actions. A purpose in philanthropy can inspire and provide much needed momentum, resilience and a sense of achievement and meaning. Because enterprising families, as they grow and age, will share a multitude of (potentially competing) goals and interests, it is essential that family philanthropists define a clear purpose for their giving early on. Motivation Family philanthropists give for diverse reasons and with different objectives. From our research, we see not only a large and diverse range of interests from families across the globe, but also multiple motivations for giving. Even though enterprising families can be extremely altruistic, they also enjoy other benefits of giving such as family cohesion or business reputation. It is useful to reflect on where the main emphasis of one’s motivation for giving lies and define the reasons for giving. These could be:
• Cause first , e.g., a passion to resolve a specific problem or challenge • Family first , e.g., a way to reconcile family members and involve the broader community • Business first , e.g., a tool to attract and retain top talent in the business
While a family may only be driven by one of these three sources of motivation, it is likely that the true motivation is a combination of these different factors, with an emphasis on helping others.
This work is licensed under the Creative Commons Attribution-NoDerivatives 4.0 International Licens e ©
From the book Family Philanthropy Navigator by Peter Vogel, Etienne Eichenberger, Małgorzata Kurak
1. Vogel, P., E. Eichenberger, & M. Kurak. (2020) . The Family Philanthropy Navigator: The Inspirational Guide for Philanthropic Families on Their Giving Journey. Lausanne: IMD Publishing.
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Navigating your Family’s Philanthropic Future Across Generations
Navigating your Family’s Philanthropic Future Across Generations
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