Have you ever thought about engaging your family in your philanthropy? There is no better way to explore your shared values and develop your family’s legacy. If your family values and approach to philanthropy is not something you have considered before, now might be the opportune time to start thinking about it.
Reflecting on your philanthropic journey, it’s interesting to consider what values first encouraged your giving. Perhaps it was an organization that impacted your family; a cause close to your heart; a sense of responsibility, or a chance to give back.
“Having discussions with your family around your values and your future philanthropic legacy is a wonderful way … to perpetuate family history, tradition, and values from one generation to another.”
As you move through your philanthropic journey, you might find yourself reflecting on these values and considering the legacy you want to leave. Having discussions with your family around your values and your future philanthropic legacy is a wonderful way to share your story, and perpetuate family history, tradition, and values from one generation to another.
Involving your family and loved ones in your charitable giving is not only a special shared experience, but an excellent way to foster the concepts of giving back and communal responsibility in those closest to you.
At the Jewish Community Foundation of Montreal (JCF), opening a Donor Advised Fund (DAF) makes it easy to accomplish this. You can nominate your children, or other close family members, to serve as part of your Advisory Committee, select a replacement chair to make granting decisions, or leave us detailed instructions on the gifts you want to perpetuate in your family’s name.
By engaging your family in your philanthropy and selecting a loved one as your replacement chair, you can ensure continuity of values in the name of your fund. The organization(s) that first sparked your commitment to philanthropy, or the values that motivated you to give, can continue to feel the benefit of your legacy for generations to come.
“By engaging your family in your philanthropy and selecting a loved one as your replacement chair, you can ensure continuity of values in the name of your fund.”
It’s never too late to consider involving your fam- ily in your philanthropy, whether your children are young or grown adults with their own families. For your younger loved ones, you can help them explore their own values through a Bnai Tdzedek fund, specifically established to do good with their Bar or Bat Mitzvah gifts. JCF will match up to $750 creating an endowment fund through which they can then distribute charity to annually.
“It’s never too late to consider involving your family in your philanthropy, whether your children are young or grown adults with their own families.”
For your older children, or a more considered approach to family philanthropy, JCF Philanthropic Advisors are trained experts in supporting families to explore their values and develop their family’s unique philanthropic mission, which the whole family can feel proud of. We hope that when the time comes for you and your family to explore your approach to charitable giving, you consider getting in touch with the Jewish Community Foundation to help support this important moment in your philanthropic journey.
To learn more about legacy giving and family philanthropy, contact a Philanthropic Advisor today at [email protected] or 514.345.6414.
Lizzie Cody, MFA-P, is a Philanthropic Advisor at the Jewish Community Foundation of Montreal