Engaging Future Generations in Philanthropy
In families of wealth, discussions often center around transferring assets and financial security for future generations. Yet, conversations about family values, civic leadership, and the responsibilities that come with inherited wealth can be more challenging to navigate. As Mellody Hobson often states, discomfort around money transcends income brackets—those struggling financially may not want to burden their children with worries about money, while the wealthy often fear their children will take financial security for granted.
As philanthropists, I believe we have a responsibility and opportunity to engage future generations in this work. In my experience, many families feel that they are behind in having these conversations with their children (of all ages) and don’t know how to engage in these topics today. At JH Philanthropy, we have developed many ways to engage future generations in philanthropy—whether they are five or fifty-five years old. Thoughtful, intentional involvement can help cultivate a deep sense of responsibility, purpose, and generosity. Below are some ways to instill these values at different life stages:
For School-Age Children: Creating a Kids’ Philanthropy Circle
One of my favorite ways to introduce young kids to giving is through a philanthropy circle. Last year, we worked with one of our clients to convene four Chicago families to facilitate meaningful conversations with their kids about giving back. During the holiday season, each child, ages five to sixteen, selected a nonprofit organization to receive a donation—some gave $100, while others contributed more. They were each tasked with researching the organization and presenting their findings to the group.
In January, the four families with all 13 children gathered at a member’s house to share their presentations. The formats varied—from poster boards to speeches written on notecards to PowerPoint slides made from their iPads and Canva (the youngest even showed up in a suit and had visual aids!). Each kid shared why they chose their organization, why they selected it, the nonprofit’s mission, the community it serves, its programs, and ways to get involved. Families asked questions and learned more about each kid’s interests. At the end of the gathering, the group selected one of the supported nonprofits to contact to coordinate a group site visit and volunteer outing.
The kids and parents enjoyed the evening and are excited about volunteering for an organization that now feels more meaningful to all of them. And a special bonus for the parents: not only is this a fun and collaborative way to infuse family conversations with the importance of giving back, but the group effort also creates accountability for the parents and the kids together!
For Teenagers and College Students: Deepening Engagement
Engaging teens and young adults in decision-making and leadership roles in their community can help them internalize a commitment to philanthropy. We have helped a number of families engage their teens in both formal and informal ways, such as:
Including children in grantee site visits and selection conversations to better understand nonprofits, their services, and how funding decisions are made.
Annual grantmaking opportunities—teens can be given a set amount of money to donate each year, but in order to activate the funds, they must research an organization and meet with them. A year later, the teens report back to the family on the nonprofit’s goals and progress over the past year.
Serving together at hands-on volunteer opportunities are a great way to encourage direct involvement with nonprofits and help teens deepen their connection to causes they care about.
For Families with Multi-Generational Giving Structures
For families with a foundation or a donor-advised fund board structure, we often encourage families to clearly outline how the rising generation of donors can engage, such as the pathway to a board seat and the expectations of a board member. As one of our families always says, “for those who want to engage, I want them to know the pathway to do so and what’s expected of them.”
Some ideas for institutionalizing next-gen engagement include:
Create a legacy document outlining the family’s Ultimate Purpose and the values you prioritize for your philanthropy. This document (or video series) can also be a great place to memorialize the values of the initial wealth creator if appropriate, and/or create a space for future generations to learn about the evolution of the family.
Establish a trustee-in-training year where rising board members:
Attend board meetings.
Participate in a committee.
Complete governance and financial training to understand board responsibilities.
Serve on a nonprofit board to gain hands-on experience.
Encourage participation with a nonprofit—the philanthropists who often find the most success and enjoyment in their philanthropy are those who feel a connection to the people, communities, and causes they care most about supporting. Encourage future decision-makers in your philanthropy to volunteer with an organization and explore joining a nonprofit board or associate board to learn more about how the organization works.
Be Intentional and Open-Minded
Successful multi-generational philanthropy requires intentionality, openness to new ideas, and a commitment to teaching and learning together. Instead of thinking about *succession planning*, I encourage families to focus on *integration planning*—weaving philanthropy into everyday life in ways that resonate across generations. Most importantly, make it enjoyable! Shared experiences of giving can be a source of joy, connection, and purpose for your family.
By actively engaging younger generations in philanthropy, families can ensure that it’s not just the financial assets that are transferred, but that family values, civic responsibility, and community leadership are also cultivated.