March 8, 2007 | Read Time: 2 minutes
NEW BOOKS
Creating Change Through Family Philanthropy: The Next Generation
by Alison Goldberg, Karen Pittelman, and Resource Generation
“As young people who have family funds, we can channel the money and power of family philanthropy toward social justice,” write Alison Goldberg and Karen Pittelman in this primer aimed at the new generation of wealthy people who have inherited roles in family foundations or who have started foundations with their inheritances. “Very few people are given this kind of access. This is our chance to use it for change.”
Ms. Goldberg and Ms. Pittelman both have personal experiences with philanthropy: Ms. Goldberg is chairwoman of the Robert P. & Judith N. Goldberg Foundation, and Ms. Pittelman used her trust fund to establish a foundation.
The book begins with a section outlining the history of family foundations and explaining the basic grant-making process.
The larger second half of the book, “Taking Action,” provides a step-by-step guide to becoming more involved and engaged in family philanthropyÊÑ while also directing the foundation’s giving and mission to promote social change.
Chapters in this second section provide self-assessment forms to stay organized and to understand how the foundation works, tips on communicating with family members, suggestions of where to get more information about social-justice efforts, first-person accounts of being a young person involved in family philanthropy, and a look at how the authors believe grant making itself should changeÊÑ and how to encourage the foundation to make socially responsible investments through its endowment.
The appendices cover the basics of philanthropy: definitions of nonprofit organizations, giving circles, trusts, and other groups; the minimum legal requirements for foundation; and other resources.
“It’s estimated that at least $41-trillion will change hands in the next 50 years,” the authors write. “Imagine the possibilities if we could redirect some of these resources toward social change.”
Publisher: Soft Skull Press, 55 Washington Street, Suite 804, New York, N.Y. 11201; (718) 643-1599; fax (866) 881-4997; http://www.softskull.com; 192 pages; $24.95; ISBN 1-933368-09-8.
