What I’ve Learned From Philanthropists: A Journey Through Giving

One of the unexpected joys of managing wealth for families isn’t just seeing numbers grow—it’s witnessing generosity in action. Over the years, I’ve sat across from clients who’ve built empires and now want to give back. In those conversations, I don’t just advise—I learn. From entrepreneurs-turned-philanthropists to matriarchs guiding the next generation, they’ve taught me that giving is as much an art as it is a discipline.

And along the way, I’ve realized: thoughtful giving is not just about “how much,” but “how well.”

Learning Through Experience

I recall a client who sold his company and set up a donor-advised fund—a simple, flexible account where you can contribute assets, receive a tax deduction, and then recommend grants to charities over time. Initially, he was unsure what causes to support. But with some structure—and encouragement—he started by giving to a small scholarship program for under-resourced students. Two years later, he was visiting campuses, mentoring students, and funding broader education reforms. What started as a donation became a mission.

It turns out, he’s not alone. In 2021, charitable assets under all donor-advised funds in the U.S. reached over $234 billion, and contributions hit a record $72.7 billion. That’s not a coincidence—it reflects how more families are embracing giving as part of their financial life.

Why People Give (and Why They Sometimes Don’t)

Behavioral science has a lot to say about giving. We’re driven by identity—people like to see themselves as generous, impactful, values-led. Recognition matters too—a heartfelt thank you or simply knowing “donors like you gave $X” can be powerful. And sometimes, what holds us back isn’t a lack of generosity—it’s just inertia.

I’ve learned to reframe giving not as a transaction, but as a journey. Many families start with “What should I give?” but the more powerful question is “Who am I, and what change do I want to see in the world?”

Giving Now vs. Giving Forever

Some clients want to give during their lifetime—to see their impact firsthand. Others prefer setting up foundations that last generations. There’s no single right answer. But what’s interesting is that a growing number of families are choosing to “spend down” their charitable capital within a set time—often 10 to 15 years. One global study found 32% of family philanthropies are now time-limited.

The reasons vary: urgency of the world’s challenges, the desire to stay actively involved, or simply wanting to enjoy the joy of giving while living. As Chuck Feeney, the founder of Atlantic Philanthropies, once said, “It’s a lot more fun to give while you’re alive than to give when you’re dead.”

What I’ve Seen Work Well

Here’s what I’ve observed from the most successful giving journeys:

• Start small but start now: You don’t need a billion-dollar foundation to make a difference.

• Involve the next generation early: Philanthropy is one of the most meaningful ways to pass on values.

• Be flexible: Donor-advised funds are growing because they offer simplicity and adaptability.

• Get help: Advisors, lawyers, and nonprofit partners bring structure and insight. You don’t have to figure it out alone.

At the heart of it all, it’s about people—families like yours—who want to leave the world a little better than they found it.

Final Thought

Philanthropy isn’t just about money. It’s about meaning. It’s a way to turn success into significance. And whether you're just beginning your journey or continuing a family legacy, I hope this reflection encourages you to think more deeply, act more intentionally, and give more joyfully.

Because giving, done thoughtfully, doesn’t just change lives—it transforms the giver too.