Philanthropy

“The Joy of Living is the Joy of Giving”

This famous proverb reflects the sentiment of many philanthropists who have embarked on a journey to support a worthy and charitable project in gratitude for what they personally have achieved, or been able to experience over the course of their lives. Irrespective of the cause – your ability to dedicate a significant amount of time, money and/or sweat equity to a specific purpose, not only mirrors the awareness of your social responsibility, but also constitutes an integral part of your own family governance.

But how can you ensure that your support will meet your objectives and have a sustainable and measurable impact?

All too often families are overwhelmed with the complexities of any charitable activity, especially if it involves the creation of their own dedicated charitable foundation or trust, or moreover if they want to grant money to a beneficiary resident in a foreign country.

Thoughtful consideration is required to decide on whether assets should rather be donated to a credible Non-Governmental Organization (NGO) instead of embarking on a lengthy and possibly unsettling adventure, that initially involves the search for a suitable and credible project, and is followed by a monitoring and accountability process that requires a sound organizational structure and experienced personnel.

"The Seven Stages of Giving" by Carnegie Corporation of New York, 2017

1. Mindset development
   An inherent belief in helping others, often traced to family background, religion and community or part of a persona
2. Reactive charity
   Giving in response to requests or emotional reactions to a crisis or cause with limited time commitments
3. Trigger for change
   Philanthropy sparked by wealth acquisition or events such as an awareness of mortality and a desire to leave a legacy
4. Proactive charity
   A search for issues to support with larger sums of money and with personal connections, such as a university of specific region. This is still emotionally driven and with limited evaluation or identification of a clear solution
5. Evaluation
   Efforts to improve the impact of giving by supporting charities seen as effective; experience of disillusionment with organisations perceived as badly managed or taking the wrong approach
6. Principled philanthropy
   Becoming more involved in the process. Starting to take a more rational approach, with research to identify areas of greatest need and expectations of regular updates and evidence of impact
7. Strategic philanthropy
   Further rationalisation and adoption of business-like procedures, such as setting clear objectives, measuring and evaluating success, as well as making performance-related contributions

Jointly with other specialized organizations, MA provides assistance in finding the appropriate answers and suitable structures to all relevant questions in conjunction with your philanthropic endeavors.