Rowland Carmichael is blessed to work with families aspiring to influence and impact their communities both locally and worldwide. Generosity alone is rarely sufficient if you want your charitable giving to make a difference. This process is often confusing and can be very emotional. Many families choose to start and manage family foundations, often working directly or jointly with institutions that share foundation goals and impact initiatives.
When considering if a foundation is the right avenue for your family, a great place to begin is reading Give $mart: Philanthropy that Gets Results by Thomas J. Tierney and Joel L. Fleishman. This book gives a well-rounded look at starting, managing and transitioning foundations and covers a myriad of case studies and lessons learned in dealing with both successful and unsuccessful attempts to “give smart.” We often recommend families review and discuss the important lessons learned in this book before venturing down the path of starting a foundation. Forethought is encouraged regarding the foundation’s mission statement, the priority for gifting initiatives, and the extent, if any, to which future generations will be involved through the Family Office. If you are interested in exploring the use of family foundations and employing intelligent governance, we welcome an open and honest conversation around how you want to live and leave a legacy.