Private foundations have been a driving force to solve society’s problems for decades. Many founders of family foundations are as passionate about their family foundation as they were in the business that created the wealth. Private foundations are often composed of family members and in some cases multiple generations. This can bring great energies but also great challenges.

  • Does each generation follow the giving patterns of the previous generation?
  • Is there a succession plan in place?

  • How are decisions made?

  • Does the foundation have a grantmaking plan?

  • Is the foundation supporting many sectors of giving (shotgun approach to grantmaking) or is it targeted philanthropy (rifle approach)?

  • Does the foundation understand qualified grants from unqualified ones?

Foundations must navigate around tricky tax rules and understand what their required minimum distribution is on an annual basis. Taylor Wealth Management, LLC can help your foundation manage these issues.

Taylor Wealth Management, LLC will work with your CPA on managing your required minimum distribution, help facilitate the grantmaking decisions, manage the investments while factoring the cash flow of the grants and to work with the foundation and grantees to ensure the grant gets the most impact. We will also work with the foundation on succession planning and help to educate the next generation on giving. These services are customized to meet the needs of the foundation.

“Every good act is charity. A man’s true wealth hereafter is the good that he does in this world to his fellows.”