As members of a family with wealth, philanthropy presents you with a special opportunity; you are uniquely placed, using both the resources and the long-held values that you share, to make an important and lasting difference to the world around you.

Many such members speak of feeling a sense of duty; a sense of duty not only to address the most pressing issues in their community, but toward their brothers and sisters, fathers and mothers. For the older generation, there is often a desire to pass down the wisdom that has been the foundation of the family’s success; for the younger generation, there is an equal desire to honor that wisdom, as they go on to forge their own paths in life. 

Many of the world’s greatest families have seen philanthropy as an ideal way of expressing their values, and celebrating their history. Perhaps the most famous example is that set by John D. Rockefeller Sr., the twentieth-century industrialist, and his son John D. Rockefeller Jr., who in 1913 established their family’s foundation so that they and his descendants might “promote the well-being of mankind throughout the world.”   

Indeed, the relationship between John D. Rockefeller Sr. and Jr. is an excellent study in how two generations, so unalike in the paths of their aspirations, can achieve great harmony through philanthropy. Whilst united in their strong Baptist faith, John Sr. and John Jr. lived lives that, on paper, could not have been more divergent. John Sr., a brooding patriarch, was one of history’s most competitive capitalists; John Jr. was remarkably shy, with no great interest in the world his father had created, and then conquered. 

What bound them together was the trust and respect that they had for each other, shown no more powerfully than the day when John Jr. approached John Sr., telling him that he wished to use the family’s wealth for the good of the wider society.  “John,” said his father, in a response that was short but of great warmth, “I want you to do what you think is right.”

What John Jr. did is now acknowledged the world over, to the extent that the Rockefeller family is now known almost as much for its generosity as for its wealth. What John Jr. did also shows how philanthropy can be an excellent field for family members to foster their entrepreneurial talents. He took the initiative in approaching some of the greatest problems of his day, working with scientists worldwide to combat, and in some cases eradicate, the threat posted by hookworm, malaria, and yellow fever. “I would take big chances,” he said; “if we keep at it, and follow up all possible clues, we shall eventually reach the desired goals.”

The question of “desired goals” is an important one. A common concern among families looking to get involved in philanthropy is that the different generations have competing, and perhaps opposing, views about what should be funded: some are enthused about culture, others care more about conservation.  But a good look at John Jr.’s interests shows how rewarding a broad approach to giving can be: he cared deeply about education, medicine, history, the arts, and nature, making significant contributions in each area.  Philanthropy can therefore be an opportunity for a family to discover and express their variety of viewpoints.

John Jr., throughout his life a man of few words, was unusually vocal on the responsibility conferred by wealth. "I was born into it, and there was nothing I could do about it,” he once observed. “It was there, like air or food or any other element. It was one of the things of the world. The only question with wealth is what you do with it. It can be used for evil purposes, or it can be an instrumentality for constructive social living." John Jr. was committed to the legacy of his family, and to the constructive social living of the society beyond; a commitment which worked to the great benefit of both. 

This commitment is one in which the Family Office Association, with our unrivalled emphasis on creating safe, intimate networks of like-minded peers, is ideally equipped to support you. We will provide you with the research and resources that you will need as you combine your passion for various causes with a carefully-defined vision; as you develop a framework for your family’s philanthropy, so that you are able to proceed with the expertise and the confidence to make a lasting and positive impact on the wider world.   

FOA would like to thank contributing editor Katherine Lorenz, Director, Institute for Philanthropy.