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?
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