In June I spent a whirlwind week in London. I was there for the Global Family Office Forum where I presented the findings of our report Philanthropy in the Family Office: A Global Perspective, and led a panel on the same.
While in London, I met many wonderful families and family office staff committed to engaging in philanthropy in a thoughtful, strategic way. It was inspiring. (Almost equally inspiring as the many neighborhoods of London I walked, and the two pints of British Cask ales I tasted!)
Stories abounded at the conference and beyond. What I learned is that philanthropy is all around us.
Most people want to ‘do better’ in supporting their communities and continue to be challenged how to add—or improve—what they are doing, all while balancing an already busy life.
For example, I met with an incredibly successful business leader who ‘put his money where his heart was’ and invested significant funds (8 figures) into economic development in developing countries. So far, he’s seen outstanding results and communities that are now thriving.
I also met with a family who has a U.S.-based foundation and family members spread across several continents. I was able to give them some ideas on how to expand their international giving, including NGOs that are outside the U.S. We also worked through some of the family dynamics they face around honoring the founder’s legacy and mission (which is tied to a specific geography), while engaging family members who live in other locations.
These are just a few of the many stories I heard. Of course, the highlight for me was moderating a panel of experts on philanthropy and family offices. Each brought their perspective: Here’s a quick recap of some of what they shared:
- Lynn Zovighian of Zovighian & Partners challenging our preconceived notions of women in philanthropy in the Middle East—reminding us that women are, indeed, playing a powerful role in philanthropy—and asserting their leadership by doing so.
- Peter Cafferkey of Geneva Global reminded us that philanthropy – whether direct contributions or via investing for social impact—is FUN.
- Chris Groves of Withersworldwide and I had a difference of opinion. His experience has taught him that people DON’t get involved in philanthropy due to the tax advantages. My experience – and our research – demonstrated that while people continue with philanthropy (and become more strategic), sometimes the tax advantages are the ‘carrot’ to get them started.
- Wesley Paul of The Royal Armories encouraged family office staff to ‘just ask your families’ how they want to engage in philanthropy. That family office staff already know most everything about the families they work with. Sometimes all it takes is getting the conversation started.
- Finally, Thysson George Williams of Lookout Investments described how he, as a next-gen leader of his family’s family office, combines impact investing with on-the-ground engagement with NGOs.
If you haven’t done so yet, I hope you’ll check out the Philanthropy in the Family Office report, which shares more stories and practical tools for family office founders and staff—including how to get started in philanthropy, how to have impact, and how to engage the next generation.
What questions are on your mind about your philanthropy these days? Drop me a line at Suzanne@suzannehammer.com.