A Legacy of Giving: How Family Foundations Are Shaping Philanthropy February 16, 2025
Here are some valuable takeaways from our panel:
People First Approach: Whether convening community forums, investing in change agents, conducting site visits to understand capital needs, or emphasizing storytelling, our panelists stressed the importance of listening to their community and to their grantees. While maintaining the founder’s original intent and legacy is important to them, they also know that adapting to current needs is vital to ensure a thriving community.
Building Relationships is Crucial: It’s important to network, make connections, and ask for introductions, especially for nonprofit organizations that may not have been funded in the past. Also, family foundations often prefer direct conversations to learn about your organization, rather than relying solely on formal applications or proposals. Don’t be shy!
Data and Storytelling Go Hand-in-Hand: Foundations value both data and storytelling. It's crucial to consistently share your data while also telling your organization's story. What impact are you making? How are you fulfilling your mission? What outcomes are you experiencing?
Flexibility and Transparency in Grant Processes: Family foundations are beginning to emphasize simplicity, flexibility and transparency in the application process. Our panel all indicated that their aim is to make it easier for grantees by not requiring unnecessary information. A few of them even offer resources like information sessions.
Supporting Long-Term Impact Over Short-Term: Family foundations value transformational and catalytic initiatives that can make a significant, long-term impact. Our panelists all represented foundations who are charged with working in perpetuity to live out their founder’s intent. Because they have a long-term view, they like to understand how your nonprofit organization is providing enduring benefits.
Providing Support Beyond Grants: Our panelists understand the value of partnership. More than being just a funder, they want to work collaboratively with their grantees. They emphasized the value they place on allowing organizations to allocate funds where they are most needed. They understand that enabling flexibility and supporting capacity, allows them to build stronger organizations.
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