family foundation

Lessons in Philanthropy: Types of Foundations

By: Nathaniel
Nathaniel is a participant in Allowance for Good's Spring 2016 Emerging Leaders in Philanthropy class in the Evanston location.

The ELP Evanston class sharing why they are Catalysts for Good.

My name is Nathaniel in the AfG Emerging Leaders in Philanthropy, and I will talk to you to say about community foundations. Foundations are non profits. A non profit is a establishment not for profit. There are many foundations such community foundation which I will be covering today, corporate foundation, family foundation, independent foundation, operating foundation, and a private foundation.

"I am a Catalyst for Good because...
I will save endangered puppies and animals."
- Nathaniel
A community foundation is a organization that helps a certain community or a religion. Money is taken from endowments and uses to make grants that will sever the community. I was surprised that the Bill and the Melinda Gates wasn't a family foundation but instead a private foundation because the Bill and Melinda Gates Foundation is a non governmental, non profit dedicated to help people and making scholarships and grants to people and companies that will help/change  the world. The activity  taught me the grant making process how people applied for grants and how companies divides and then decides to pay the full grant or pay for a part of the grant or veto the grant entirely. Evanston has a community foundation called The Evanston Community Foundation or ECF for short. Evanston can thrive by making grants to certain people or companies that are dedicated to Evanston and its people.These people and companies can sponsor activities that help the community by cleaning up the streets or doing a bake sale that the money is donated to Evanston. That money can be used to fixed the parks in Evanston, make sure that public spaces are a safe environment, clean up the neighborhoods around ETHS. There is a lot to do to help Evanston thrive, but it will happen and Evanston will remain to be a great suburb.

Family Foundations: Learning into Practice

By: Jackson
Jackson is a participant in Allowance for Good's Winter 2015 Emerging Leaders in Philanthropy: Explorers class.

As someone who is relatively familiar with philanthropy and who thinks that they know almost everything, I am delightfully surprised by how much the ELP Explorers class has taught me over the last few weeks. However, this week’s course in particular connected with me on a different level. Our class had the opportunity to speak with high-ranking members of various foundations and gain insight as to how philanthropy works outside of our office space.

The majority of our time was spent learning about family foundations. A family foundation is one whose funds are derived from the members of a family. We learned about how family foundations operate, how they determine their grantees, and what they do to ensure success. We also learned that simply donating money as a family is not the same as forming a family foundation. While donating money may be a charitable and generous thing that families do around a dinner table, family foundations make certain that those same donations provide long term aid for worthy organizations.

If given the opportunity to create my own family foundation, I would support three things: providing children with the proper resources for formal education, working to maintain the environment, and researching cures for disabilities and mental illness. In regards to education, I strongly believe that all children deserve an opportunity to learn and grow. Even though more children throughout the world are receiving a formal education, the numbers are still not where they could be. I believe that through proper emphasis and funding, every child in the world could someday say that they have been to school.

Next, I feel that maintaining the environment and creating a more eco-friendly society is crucial. With global warming intensifying by the day, it is time for us to change how we live. Specifically, I would fund efforts to increase the use of clean, reusable energy and decrease the burning of fossil fuels.

Illness and disability research is a cause that is very close to my heart. Various members of my family have suffered through Alzheimer’s, cancer, and other diseases. Though I do my best every day to support them, sometimes that is not enough. That is why, if I were to form a family foundation, I would strive to support these research organizations.

The ELP Explorers class has taught me so much about philanthropy and leadership. With the skills that I learn in this course, I hope to someday use them to make the world a healthier, cleaner, and generally better place.

Jackson discusses the definition of philanthropy with his classmate Arielle.