Acts of philanthropy change lives for the better, and leave legacies that last for generations. We’ve seen a growing interest in philanthropy and charitable giving in recent years, from direct donations and social investments to creating and running new charities.
Many family business owners and wealthy individuals are drawn to philanthropy by a sense of social responsibility and a desire to give back. It can also be an excellent way to teach the next generation about the principles of financial stewardship.
If you’re thinking about giving to or starting a charitable cause, we can help.
Deciding to become a philanthropist
Any philanthropic enterprise must be carefully planned and executed. We will work with you to determine:
- your philanthropic aspirations, motivations, values, and causes;
- whether you want to give your time, money, expertise, or all three; and
- how best to achieve the positive impact that you desire.
We can then help you create a long-term and sustainable strategy that can evolve and adapt to provide inter-generational continuity.
Setting up a philanthropic enterprise
Once you’ve decided on the right philanthropic commitment, we can help you:
- draw up a constitution that establishes what sort of organisation your charity will be and acts as a rulebook to help you manage and control it;
- find the most appropriate structure and investment vehicle for your philanthropic enterprise, which could be a trust, foundation, or corporate vehicle;
- advise on the administration, accounting, regulatory, and compliance issues associated with whichever structure you choose;
- use the tax reliefs and allowances available to maximise the benefit to the charity concerned;
- consider how any international aspects of your affairs affect your philanthropic efforts, particularly with regards to cross-border giving; and
- deal with a charity approaching the end of its life to ensure an orderly wind down.
Contact Zoe Martin, Sophie St John, or Nick Sladden to find out how they can help you plan and achieve your philanthropic goals.