Introduction

I am a problem solver.

I have spent more than twenty-five years working closely with family foundations as their Chief Investment Officer, or CIO. I love helping families solve some of the complex challenges they face when managing their family foundation’s assets. I especially love helping to make a reality these families’ deep desire to give back and live lives rooted in generosity.

The problems I help solve facilitate the type of funding that effects big, important change, impacting deserving people and organizations in very real ways. As a result, the family members behind the family foundations I serve have the opportunity and freedom to focus on what’s most important to them—collaborating to improve the areas of life they care most about.

Family foundations are set apart from other philanthropic endeavors because, in addition to charitable objectives, most family foundations also have the personal goal of workingtogether to make a difference in their community. In the past twenty-five years, I have learned that, aside from managing investments and laying the groundwork for objectives to be achieved, what often helps foundations the most is the calming influence of a seasoned, independent third party. I make it my mission to ensure that the process of getting a family to their stated goals is fulfilling and collaborative.

As a professional CIO, I am compensated for my work with family foundations. Financial awards aside, however, I consider it a privilege to add the value of my own experience and expertise to foundations that are making an active effort to solve real problems in our society, whether on a local or global level. Beyond simply imagining this better future, these families are actively participating increating that future. I am proud to be a part of that process.

What Is a Family Foundation?

There are many types of foundations, but family foundations are particularly compelling. Throughout this book, I will often use the word “foundation” as shorthand to refer to family foundations.

Family foundations are legally a subset of private foundations, which include family, corporate, independent, and operating foundations. Not only do foundations allow families to leave a legacy specific to their passion, personal history, community, and life’s work, but they also provide the opportunity for family members to come together to give back collectively and collaboratively.

This is the idea, at least. The practice of actually running a family foundation can often look a little different.

In this day and age of never-before-seen transparency, intense scrutiny, and digital media, innocent errors and mistakes can lead to collateral and reputational damage.

Many foundations fail to account for the specific rules and regulations that dictate what they can and cannot do in terms of structu