Beyond Duty and Obligation
Publication Date: January 2006
Publisher(s): Andrea and Charles Bronfman Philanthropies
Author(s): Sharna Goldseker
Special Collection: Berman Jewish Policy Archive
Keywords: North American Jews; Fundraising/Philanthropy
Analysts of the much-discussed intergenerational wealth transfer predict Baby Boomers will inherit $40 trillion by 2052. Although this seems almost certain, it is uncertain what the next generation will do with all this wealth. Foundations anticipating this transfer are already considering how to incorporate the next generation into their family's philanthropy. They are learning that engaging young adults in current family systems can be challenging. This article offers lessons about the next generation as well as strategies and tactics for integrating them into the foundation. Adopting a multigenerational approach is the first step in the process.