Is your house big enough? Do you need more room? Will your family be happier in a bigger home?

I think my perspective on this issue was shaped a bit last week by a conversation I had with a few members of an American family that has lived and worked most of the time over the last nine years in the foothills of the Himalayas. Read the rest of this entry »

I mentioned that profits have to do with increased wealth; and increased wealth is not the same as cash. If we fail to understand those differences, we can run into some serious trouble.

I thought I would illustrate what I am talking about. Read the rest of this entry »

Charitable giving comes in many forms. Cash donations and hands-on volunteerism are only two.

I have mentioned before the Sonlight Rice Bag Project. The repercussions of that project continue to reverberate in my mind and heart.

This morning, I woke up with the idea that I should write to some people with whom our family business competes. Not about our business, per se, but, rather, about opportunities we–both they and we–have to influence our customers for good.

This is a slightly edited version of the letter I sent. Read the rest of this entry »

Aging with Dignity of Tallahassee, FL, has produced a tremendously helpful document called Five Wishes that helps users think through the answers to key questions Living Wills are meant to answer, questions having to do with

1. The person you want to make care decisions for you when you are unable.
    
2. The kind of medical treatment you will want . . . or don’t want when in extremis (near death).
    
3. How comfortable you want to be when in extremis.
    
4. How you will want people to treat you when in extremis.
    
5. What you want your loved ones to know with respect to you wishes at–and after–death.

Aging with Dignity says, Read the rest of this entry »

Last Monday I got to see a demonstration of software meant to make the administration of private foundations much easier. Among other things, the program offers compliance services, including a review of grants to ensure there is no self-dealing; a review of potential recipients of grants to ensure they are, in fact, 501(c)(3) organizations, and thus eligible to receive tax-deductible donations; and a constant vigil over total annual foundation disbursements to ensure that the foundation hits its five percent (5%) minimum distribution requirement.

It was this last service that caught my eye. Read the rest of this entry »

Charles W. Collier, in Wealth in Families, expands on the theme urged by James E. Hughes, Jr. to which I’ve alluded in the past–the idea that, as Collier quotes Hughes (perhaps from a personal interview; I have been unable to find these exact words in either of Hughes’ books themselves): “A family’s duty is to work to preserve the family’s principal wealth-generating assets: its human and intellectual capital. The family leadership and governance structure should provide an environment that values and enhances each family member’s ability to pursue their individual life calling.”

As I have meditated on Hughes’ comments and, more recently, on what Collier says, I have realized, on the one hand, that they call our attention to things most of us ignore to our peril. On the other, I have realized that there are several other asset classes that they don’t really address.

I would like to call your attention to four such non-financial, wealth-generating asset classes. What follows, then, combines a bit of Hughes, a bit of Collier, and serious dollop of John Holzmann as well. Read the rest of this entry »

There is a common phrase among charities–at least among Christian charities–that donors should consider giving of their Time, their Talents, and their Treasure (i.e., time, skills, and money). The alliteration certainly makes the concept easy to remember. But does the phrase even make sense?

Last week, while I was at the Generosity Forum meeting, Gary Hoag challenged the concept. He said the phrase not only implies something that is impossible, it also encourages a wicked attitude on the part of those who “buy” its meaning. Specifically, he said, we can’t speak of owning (possessing, holding, having) time in the same way that we own (possess, hold, or have) talents and treasure. Time is not an asset in the same way that talents and treasure are.

He had two reasons for objecting.

First, Read the rest of this entry »

Back on August 6th and 7th, I wrote about some of the things I was learning in Carol Weisman’s slim but inspiring book Raising Charitable Children.

If you have children–or grandchildren–from about four- or five-years old through high school, this book is for you. Weisman offers incredibly helpful, totally practical counsel for parents or grandparents of the entire spectrum. And she is no armchair philosopher; she has “been there and done that.” Moreover, she has obviously thought long and hard about the kinds of practical questions you’d expect most authors to forget.

Some examples: Read the rest of this entry »