How to Create a Family Giving Strategy: Engaging Multiple Generations in Philanthropy

At Park City Community Foundation, we believe that philanthropy is most meaningful when it reflects the values, interests, and aspirations of the people behind it. For many families, giving is more than a financial decision; it’s an opportunity to come together, strengthen relationships, and build a shared legacy across generations. 

Creating a family giving strategy can feel both exciting and complex. Each family brings its own history, dynamics, and goals to the table. There is no one-size-fits-all approach, and that’s a good thing. Effective strategies are the ones that are thoughtfully tailored to your family’s unique story. 

Start with Shared Values 

Every strong giving strategy begins with a conversation, but the most impactful philanthropy goes deeper by defining the values that truly guide your family’s decisions. This might include a commitment to continuous learning, advancing equity, building more inclusive communities, or serving as a philanthropic leader through your giving. Clarifying these values creates a durable framework that shapes not only what you support, but how you give, encouraging thoughtful, adaptive, and intentional philanthropy over time. 

Not sure where to begin? Start by looking at a list of common values, like this one from Brene Brown. Gather family members across generations for an open discussion to define your collective values. Younger voices often bring fresh perspectives, while older generations offer experience and long-term vision.  

Aligning around shared values creates a clear, lasting compass—helping your family make consistent, meaningful giving decisions for years to come. 

Define Your Purpose & Goals 

Once your values are clear, the next step is to define what you want your philanthropy to achieve. Clarifying your goals helps guide decisions about where and how to give and ensures alignment across generations. 

A few questions to consider:  

• What are the issue areas that matter most to each family member? How do these issue areas align with your collective values? 

• Will you focus your giving locally? Or will you also take a national or international approach? 

• Are you focused on immediate community needs? Long-term systemic change? A mix of both? 

• How will you determine if your giving strategy is successful? 

Choose a Giving Structure That Fits Your Family 

There are many ways to structure family philanthropy, and the right option depends on your goals, level of involvement, and desired flexibility. Options might include: 

• Donor-advised funds for flexible, ongoing giving  

• Designated funds to support specific causes or organizations  

• Collaborative giving approaches that involve multiple family members in decision-making  

• Starting a family foundation to create a lasting legacy with greater control over grantmaking and governance 

Each structure offers different benefits, and part of the process is finding what works best for your family’s approach and priorities. 

Engage the Next Generation 

One of the most powerful aspects of family philanthropy is its ability to inspire and educate younger generations. Inviting children and grandchildren into the process—whether through researching nonprofits, participating in grant decisions, or volunteering—helps cultivate understanding, responsibility, and a lifelong commitment to giving. A few ideas to get young people engaged in giving:  

• During Live PC Give PC, our community’s local giving day, give children an allotted amount of money they can donate and let them choose which nonprofits they want to support.  

• Bring kids to events hosted by nonprofits and tell them how the nonprofit is making a difference in the community.  

• Encourage young adults to consider volunteering opportunities locally.  

Giving together can also strengthen family bonds. It creates a shared experience rooted in purpose and impact. 

Build in Flexibility 

Family dynamics and priorities evolve over time. A successful giving strategy leaves room for growth and change. Regular check-ins can help ensure your approach continues to reflect your family’s values and interests. 

It’s also important to recognize that different family members may have different philanthropic passions. Creating space for individual interests within a shared framework can keep everyone engaged and invested. 

Partner with Local Expertise 

Navigating philanthropic options doesn’t have to be overwhelming. Working with a community foundation provides access to local knowledge, trusted nonprofit relationships, and tailored guidance to help you make the most of your giving. 

At Park City Community Foundation, we work closely with families to design strategies that are thoughtful, effective, and curated to meet your needs. We understand that every family’s approach to philanthropy is different, and we’re here to help you explore what’s possible and achieve your philanthropic aspirations. 

Let’s Start the Conversation 

If you’re thinking about creating or refining your family’s giving strategy, we’d love to help. Whether you’re just getting started or looking to engage the next generation more intentionally, our team can guide you through the options. 

Reach out to Alexis Brown, VP of Development, at alexis@parkcitycf.org to start a conversation about what a family giving strategy could look like for you. Together, we can help you build a meaningful and lasting philanthropic legacy.