GRAND Magazine - September/October 2018 - 44

philanthropy

Giving and getting with your grandkids
BY EILEEN HEISMAN

C

reating an impactful philanthropic legacy can be easy
as well as strategic. Here are three tips to get you
started with grandkids at any age, on any budget.
Give together. Grandparents can practice philanthropy with grandchildren starting at a young age. Give
them $20 a year to donate to a charity or cause of their
choice. Encourage them to ask questions about different
causes. Share stories of organizations that mean the most
to you or a member of your family. Ask them if they have
any ideas about how the money might be used. Talk to
them about why they chose their charity and what the
organization or cause means to them.
Volunteer. As your grandchildren get older, you
can bond through volunteering together. Your grandchild
will experience the organization's work first hand and see
how the money they or other donors have donated makes
an impact. Inventory skills that you each have for a more
fulfilling volunteer opportunity. Create a tradition of volunteering that can become a family activity. Plant seeds so
they can continue the tradition with their own children and
grandchildren.
Grow your legacy. A donor-advised fund (DAF)
can be a great way to involve your grandchildren in your
philanthropic legacy. A DAF works like a charitable savings
account-you can make a charitable contribution, receive
an immediate tax benefit and then recommend grants from
the DAF over time. When you establish your DAF, you can
designate your children and grandchildren as successor
advisors. Some DAFs can exist in perpetuity, meaning that the
seed planted with your DAF could grow and expand your philanthropic impact for generations.
44 GRAND

SEPTEMBER OCTOBER 2018

As a parent and grandparent, actively teach your children and
grandchildren the importance of helping others and giving back.
Talk to your family (and your financial advisor) about how your
legacy can make a difference.

Eileen Heisman is CEO of National Philanthropic Trust,
one of the Top 25 grantmaking institutions in the US. For
more than 30 years, she has guided families and individuals
regarding charitable giving. In 2016, she launched the
History of Giving, a narrative of the last 500 years in
philanthropy. More at NPTrust.org.


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GRAND Magazine - September/October 2018

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