Family foundations are often established because of the good intentions and heightened awareness to one’s social responsibility that results from an increase or concentration of wealth within a single family.
For many families, the foundation provides an opportunity to make a personal, lasting contribution to society, on behalf of yourselves or a beloved family member, and in some cases is used as a mechanism to engage a family around the extraordinary benefits of philanthropy.
Managing a family foundation is a delicate act in which you need to balance the mission and values of the foundation, the intent of the founders, administration and attention to many details, and the dynamics of the family. MicroEdge solutions help you streamline and simplify your family’s charitable giving, so that you can focus on your mission, and on ensuring this mission and good work is carried on from generation to generation:
- Ensure that your giving supports your family’s core values and goals
- Establish a workflow and process for your charitable giving, to ensure fair consideration of all grantees and projects, regardless of their size or experience
- Streamline your grant process and reduce paper administration, to increase efficiency and make the philanthropic process more rewarding, while maintaining necessary family control
- Make it easier for family members to collaborate during decision-making, even if they are geographically dispersed
- Provide 24/7 access to all giving data, to keep family and board members informed and engaged, despite busy schedules and distant locations
- Monitor project and grant status, streamline review schedules, confirm payments, and generate reports on demand, so all participants are up to date
- Understand and abide by changing governmental regulations and guidelines
- Build, maintain and protect a secure history and legacy of your foundation for the next generation
- Enhance your ability to communicate with your family, grantees, the communities you support and the public at large
- Get the most out of your giving with better ways to analyze, track and measure the projects you fund, and accurately report on them