Assessing your philanthropic goals

By Hedda T. Schupak

The Council on Foundations suggests that considering the following questions will help you determine whether a family foundation is the best way to achieve your philanthropic goals:

• What values do you plan to express through your giving?

• Do you wish to involve others (such as extended family or employees)? To what extent?

• What is the geographic scope of your philanthropy?

• How long do you want your philanthropy to operate? Years? Decades? Forever?

• Do you prefer supporting others’ work or hands-on participation?

• To what degree are you comfortable delegating tasks (such as investment management or correspondence)?

• How much time can you devote to administering your philanthropy?

• What are the tax consequences?



Related Article: