Credit Suisse & the Institute for Philanthropy Introduce 'Funding as a Family: Engaging the Next Generation in Family Philanthropy'

White Paper Explores Grantmaking as a Family in the USA and Beyond

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May 19, 2010, 09:43 ET

NEW YORK, May 19 /PRNewswire-FirstCall/ -- Credit Suisse and the Institute for Philanthropy have published a white paper that provides recommendations for philanthropists and their advisors on how to develop family philanthropy in a variety of contexts, including the family foundation, the family business and a host of more informal giving schemes designed to help younger generations learn about philanthropy.

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Family Philanthropy Models

Models for family philanthropy fall broadly into three categories:

1) Family foundation: A board made up principally of family members oversees the activities of a philanthropic foundation.

2) Family business model: A family makes grants through the corporate foundation or corporate philanthropy program of a family business.

3) Informal activities: Family giving initiatives organized around the kitchen table allow younger generations to learn about their families' philanthropy in preparation for their future engagement.

Family Grantmaking In Practice Worldwide

The white paper looks at various giving models in the US, Europe, Latin America, the UK, Germany and Italy; the benefits of engaging the next generation in family philanthropy; and how to overcome the challenges around family philanthropy, particularly as older generations seek to engage younger members of the family in their grantmaking. The white paper also includes case studies with 'family pairs,' e.g., a mother and son, that provide recommendations for philanthropists and their advisors on how to successfully engage the next generation in family philanthropy.

Bill Woodson, Head of Family Wealth Management, Credit Suisse Private Banking USA, said: "Philanthropy creates a forum for families to pass down values and build legacy together, and to address issues around wealth and inheritance. The paper provides inspiring insights into how families around the world are working together to build thoughtful and effective family philanthropies."

Dr Salvatore LaSpada, Chief Executive of the Institute for Philanthropy, said: "We are very pleased that Credit Suisse is paying such close attention to what is currently one of the most crucial issues in philanthropy: how to see that each of the generations engage effectively in their family's giving. To take part in philanthropy as a family is a uniquely rewarding experience, though not without its challenges. This paper, with a range of case studies from around the word, provides practical steps to making that experience all the more fulfilling."

Credit Suisse AG

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 48,300 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Private Banking

In Private Banking, Credit Suisse provides comprehensive advice and a broad range of wealth management solutions, including pension planning, life insurance products, tax planning and wealth and inheritance advice, which are tailored to the needs of high-net-worth and ultra-high-net-worth individuals worldwide. In Switzerland Credit Suisse supplies banking products and services to individual clients, corporates and institutions.

Institute for Philanthropy

Established in 2000, the Institute for Philanthropy is one of the world's leading organizations providing international donor education; its staff brings more than 50 years of experience at the highest level in strategic philanthropy. With offices in London and New York, we work closely with a global network of wealthy individuals and families, and in partnership with private companies, trusts, foundations and schools. We work to increase effective philanthropy internationally. We do this by providing donor education, building donor networks, and raising the awareness and understanding of philanthropy.

SOURCE Credit Suisse AG