Taking Over the Family Foundation

Perhaps indicative of the Baby Boomer population reaching maturity is this story about one estate beneficiary regarding how best to manage a parent's legacy in the form of a charitable foundation.

Her grandfather, Max M. Fisher, founded the Speedway gasoline station chain and gave millions to big causes like the Detroit Symphony Orchestra and the United Jewish Appeal. || Caroline Cummings Rafferty, 29 years old, is being groomed to help run the $235 million Max M. and Marjorie S. Fisher Foundation in Southfield, Mich. But for now, she is running a tiny $1 million foundation and making gifts of a few thousand dollars to charitable organizations.

Philanthropy

Ms. Cummings Rafferty reflects the struggles facing family philanthropists—one old problem and one new: How do parents foster proper stewardship of family foundations among their children? And with an economic downturn racking charitable giving, how do heirs manage to do more with less? || via Taking Over the Family Foundation – WSJ.com || SOURCE | SEARCH | AMPLIFIED | SUBSCRIBE || NPO | ALTACITIES AFFINITIES: PHILANTHROPY || Apple iWeb | BlogCatalog | Facebook | Linkedin |WordPress | BLOGGER | When you change the way you look at things, the things you look at change || Social Networking by ALTALOMAN
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