Private foundations are powerful. They change the world for the better; engage the family in a shared mission; and establish a legacy that can burnish the family name well beyond the founder’s lifetime. Through their private foundations, donors promote the ideals and values that they wish to advance in public and imprint at home. Using the same talents, skills, contacts, and life experience that produced success in business, they can effect dramatic change. When a private foundation realizes its full potential for excellence, no other charitable vehicle can compare.
Of course, in philanthropy, as in most spheres of human endeavor, excellence doesn’t just happen. Although passion and vision are critical elements, our work with over 1,100 foundation clients has consistently shown us that the most successful are those who address four key components:
- Family Engagement
- Mission and Impact