Establishing a multigenerational giving plan effectively passes along shared beliefs and values to your family. This leaves a positive impact for your family to follow. It inserts a moral and ethical attitude about the need to help others and creates a lasting impression on your children and grandchildren.
Philanthropy through the Dunham Donor-Advised Fund offers the opportunity for multiple generations to come together in a common purpose and provides an incomparable forum for families to work together towards a common cause. Giving bonds a family by providing them opportunities to spend time together in a responsible and caring manner.
Many years ago, Mary and John were concerned about teaching their children the importance of giving back. Their financial advisor suggested establishing a donor-advised fund and involving their children ages 9, 12, and 15 in charitable giving. They donated money into the fund and received an immediate tax deduction. He suggested they create a “Family Philanthropic Committee” where each family member would present up to two charitable groups they wanted to support, and they would make their case for the charity.
Each family member became an “advocate” for the organization they were passionate about. The members would then vote, and the top three with the most points received funding for the year.
As the children began working after-school and summer jobs, they were encouraged to add their own contributions to the fund.
When Mary and John’s children grew up and began having children of their own, the Family Philanthropic Committee expanded. It became a way to connect the family members together, especially as the kids moved out of the house and became geographically dispersed.
Mary and John’s Dunham Donor-Advised Fund created a legacy of giving that is now passed to their grandchildren, and will eventually pass to their great-grandchildren. Giving as a family allows parents to introduce their children to charitable giving at a young age, so they can experience first-hand what it feels like to leave a positive impact.
To learn more, speak to your financial advisor. They will explain what options might be ideal for you and your family’s individual situation.
Find out how the Dunham Donor-Advised Fund can help you leave a positive impact for your family to follow by clicking the button below.
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