Young and Wealthy: Teaching the Next Gen How to Manage Money and Have an Impact Through Philanthropy
AiP Conference on Philanthropy 2019, Washington, D.C. May 22-24, 2019
Orr Group Director, Rebecca Emani will lead a Breakout Session on teaching the next generation the value of money through philanthropic investment.
The next generation of UHNW clients do not need to learn the value of $1 or $10, they need to understand the potential impact of $10,000 or $100,000+. One of the best ways to teach them about the value of money is through philanthropy.
As wealth is transferred, many families are thinking about how to bring the next generation into their family’s work either in a family-owned-business or a family foundation. The presentation will provide tools to advisors as they work to help families grappling with the future transfer of wealth.
The presentation will include a model on how to use philanthropy to assist in the transfer of wealth. Both advisors and non-profits have used this framework with next gen clients/donors with significant degrees of success.
Attendees will gain a better understanding of the following:
- Choosing goals: helping your client pick a philanthropic goal. And strategies for goal achievement: helping clients decide which non-profits are attacking a problem the way they want.
- Good application of philanthropic activities: how do you know which strategy is the best? Which non-profit is making the most impact?
- Understanding evaluation and performance indicators: Unlike in business it can be difficult to measure the ROI of a philanthropic investment – evaluation and performance are much more nuanced in philanthropy than in business. Here is where the opportunity exists to help clients understand what matters to them and what type of impact aligns with their values.