At the Alchemia Group we are helping our clients think & act differently in regards to their wealth and its impact on thier family - because we know it is more than just numbers and plans, it's the Balance of Art & Science with Pragmatism and Vision.
When Philanthropy gives back to you – Part 2
As a reminder let’s start with two important premises.
It is often a wake-up call for wealth owners when you ask them what is being done to prepare their heirs to receive assets. Philanthropy offers an opportunity to ease into the bigger conversations around wealth and its role in the lives of family members. It can also help restore and support family relationships.
I saw this occur in a powerful way at a family meeting. One of the agenda items was the family’s philanthropic contributions for the year. All five of the adult children had been allocated funds to donate to a charity of their choice. Each child was charged with making a short presentation about that choice before the family.
For several years, the eldest son had been distant from his siblings. His two sisters, in particular, had previously demonstrated great disrespect for him, his lack of formal education, and his seeming lack of interest in any family events involving money.
When it was his turn to announce his charity, he spoke about the importance of maintaining Civil War memorials so that we remember how America once found itself pitting brother against brother. His passion about the consequences of that war and the lessons to be remembered came through so clearly that both his sisters changed their minds and decided to donate to his cause instead. The women saw him in a new light, and he learned that money can be deployed in ways to keep families together rather than in ways that divide them.
Experiencing the ability to impact the world in a meaningful way through strategic philanthropy is a powerful tool for families seeking to define the proper role for their financial assets.
The YouthRoots Foundation – www.youth-roots.org
YouthRoots, founded by Lacey Books, gives high school students the opportunity to experience helping their community while learning valuable life skills. As Lacey writes on the site:
We are a youth-led leadership development program aimed to teach and empower high school students to change the world! No, but really, we teach you how to change the world. I’m not joking. 🙂 Plus, you complete a mini-MBA type program! What’s better than changing the world while bettering yourself?!
YouthRoots is a very unique organization. Programs like this can be key components to the preparation of coming generations to deal with financial assets in a healthy manner. To see the areas YouthRoots seeks to impact look at their ‘who-we-help’ page, http://www.youth-roots.org/who-we-help.