Giving With Clarity: The Power of Intentional Giving in Family Philanthropy  

As a family, you’ve built a legacy that extends beyond your lifetime. But have you considered how to engage the generations that come after you? Greater Houston Community Foundation’s (Foundation) structured philanthropy approach can help you give with clarity. 

Our team is dedicated to helping families and their network of advisors navigate the complex world of philanthropy. We provide guidance and technical expertise to help with even the most complicated situations and family structures. We believe intentional planning is essential for successful giving–and it’s not just about the money. 

Gaining Clarity Through Structure  

By being part of the discussion–whether formally or informally, at the table or behind the scenes–our team at the Foundation can help families resolve issues and smooth out the edges around common intra-family challenges, including communication, decision-making, next-generation preparation and engagement, and charitable giving.  A customized framework can then be created to align with your family’s values and goals. 

Case Study: The Marshall Family Legacy 

When the Marshall family started working with the Foundation, they didn’t have a structure in place for their giving. Ava and Ethan Marshall had always been generous with their time and resources but did not have a structured plan in place or a formal giving vehicle. While they demonstrated a strong commitment to philanthropy, their efforts were somewhat scattered and lacked a clear focus. 

Upon the recommendation of their financial advisor, the couple decided to leverage their retirement assets and appreciated stocks to establish a fund at the Foundation. This strategic decision allowed them to transition from making annual, ad hoc philanthropic choices to a more structured approach. Working closely with their philanthropic advisor, they managed their investments at the Foundation and built an enduring endowment that would support the charities they had long supported during their lifetime. By granting a portion of their funds each year while preserving the remainder for future growth, they created a legacy that would continue to benefit their cherished causes.  

Over time, they made meaningful, long-term commitments to their alma maters and local organizations, including endowed scholarships and initiatives that preserve green spaces for future generations of Houstonians. As they settled into this philanthropic routine, they subsequently engaged their daughters in the process, involving them in the decision-making and fostering a sense of family involvement and responsibility in their philanthropic endeavors. 

To prepare their daughters for the future, the couple encouraged them to enroll in the Foundation’s Next Gen Donor Institute. This comprehensive program fosters peer-to-peer learning, engagement with Foundation staff, and the opportunity to develop their own philanthropic identities and interests. Upon completion, they were invited to participate in the fund’s annual meetings and were empowered to make informed grant recommendations. The family’s eldest daughter was subsequently appointed Chair of their fund, leveraging her local roots, artistic passion, and teaching background. She also became active in the Foundation’s Family Giving Circle and donor programming. Despite differing opinions on politics and cause support, the family has established a structured approach, guided by their philanthropic advisor, which facilitates fruitful discussions and fosters collective growth. 

The Marshalls have cultivated a long-standing commitment to philanthropy with their family and in partnership with the Foundation, spanning over a decade. With confidence, they believe that their endowment will continue to align with their wishes long after they are gone. Moreover, the Marshalls have successfully instilled in their children and grandchildren the importance of community engagement, as they are all actively involved with local boards, engaged with the Foundation, and have established donor advised funds of their own, ensuring a legacy of philanthropic stewardship. 

Here are a few ways the Foundation can help with your philanthropy: 

• Facilitate meaningful conversations about your values, interests, and goals. 
• Structure your charitable giving to achieve a lasting impact. 
• Help you identify and overcome common challenges like communication, decision-making, and intergenerational differences. 
• Connect you with a valuable peer network.

The case study presented in this blog is a fictionalized account of real-world business scenarios, created for educational purposes only.

A Range of Options 

We understand that every family is unique and has “dynamics.” The Foundation can work with your family no matter what type of giving vehicles you use or are considering using. You may choose to: 

• Use a private foundation in conjunction with a donor advised fund at the Foundation 
• Leverage our donor advised fund as a standalone solution for your charitable giving 
• Utilize our full suite of charitable giving services, including grantmaking/grant administration, consulting, tax expertise, and administrative support  

By consulting with our philanthropic advisors and creating a structured philanthropy plan, you can ensure that your family’s legacy is preserved for generations to come. Our experts will help you navigate the complexities of philanthropy so you can focus on what matters most: making a meaningful impact in your community. 

Continue reading: What is a donor advised fund?

Preserve Your Legacy, Achieve Peace of Mind 

As you consider your family’s philanthropic legacy, you may be worried about how to ensure that your philanthropic intent is carried on, even after you’re gone. You may be concerned about the potential for conflict or confusion among family members. 

By working with Greater Houston Community Foundation, you can create a structured plan that addresses these concerns and helps you achieve your goals. Our team of philanthropic advisors will help you: 

• Clarify your values and goals for your philanthropic efforts 
• Develop a customized plan for achieving your objectives 
• Create a clear and transparent process for making decisions and allocating resources 

With our guidance, you’ll be able to: 

• Ensure that your family’s legacy is preserved for generations to come 
• Reduce the risk of conflict or confusion among family members 
• Achieve peace of mind, knowing that your philanthropic efforts are aligned with your values and goals 

Achieve a sense of fulfillment and purpose, knowing that your philanthropic efforts are making a meaningful difference. Don’t let uncertainty and disorganization hold you back from achieving your philanthropic goals. Contact us today to learn about how we can help you build a legacy through structured philanthropy. 

More Helpful Articles by Greater Houston Community Foundation: 

• How to start a scholarship fund?
• The Importance of Charitable Giving in Financial and Estate Planning
• The Future Is Now: What Is Next-Gen Philanthropy?
• Meet One of Houston’s Hispanic Philanthropic Power Couples
• Philanthropic Partnership: Hope Biosciences Research Foundation

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