A family for the – FOUNDATION – for a family

The impetus for a project like a family foundation is typically an inheritance, the sale of a business, or income from a hugely successful sports career. In my conversations, however, somewhat more hidden motivations often emerge: the inheritor might want to prove something to his family with the foundation, the businessperson may want to anchor her values through the foundation, or the family foundation may be intended to bring together different generations in a joint undertaking.

The diverse worldviews and life situations of different generations can enrich a family foundation when the foundation strategy is developed collaboratively and on an equal footing. In this context, it is highly recommended to involve a foundation expert who can develop a joint focus out of sometimes emotional discussions. Here, two aspects are particularly worthy of attention:

• The foundation’s purpose should be open and broadly formulated, but its core areas should reflect the interests of all family members. So it’s entirely possible that a foundation will invest in research into Alzheimer’s disease (due to a grandmother’s illness), but will also fund the protection of endangered species because the grandchildren care about the continued existence of rhinos or orangutans.
• In the case of a family foundation, it is advisable that the foundation board also include external members – in our example, a foundation or rhino expert, for instance. In my experience, I often find that as a foundation expert I can mediate between family members’ differing viewpoints or can chart a new generation-spanning path – since my opinion as a neutral expert is acceptable to all parties.

Thanks to a jointly developed, content-focused foundation strategy, interest in shared projects will grow and the family can move closer together on the path towards a mutual goal.