For most people, charity and philanthropy are largely reactive. A telephone solicitor calls asking for a contribution; a business associate requests a financial commitment to support his or her pet cause.

However, it has become more common for clients to take a more active role in their philanthropy, and to share their time and talents as well as their treasure. In these cases, it makes sense for a family to adopt what we call a family contribution system. Such a system enables a family to be proactive in its commitments, and to reap the joyful benefits of making a difference with commitments that are meaningful to them. It also gives them a platform for teaching children the value of philanthropy, and how they can make a difference in the world as well.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access