‘Life’s most persistent and urgent question is, ‘What are you doing for others?’ – Martin Luther King, Jr.

Why philanthropy? You cannot take it with you and many business families wish to leave a legacy, whether anonymous or named donations, that make a difference to causes about which they care.

In my view, philanthropic efforts for a family business:

– shares an important family value
– is consistent with thinking generationally
– can help engage the next generation
– demonstrates that the business is giving back which is a value that many Gen Y, Millenials and Gen Z really care about (think Greta Thunberg)

Rachael Chong leads the charge of volunteerism with Catchafire.org, matching professionals with not for profit organizations and their needs.

Philanthropy is not necessarily about the $ being donated. It is the act of giving funds but also giving skills/time where they may be needed. A small step forward with a consistent philanthropy policy is certainly a step in the right direction.

Learn, think, apply!