The term "family foundation" is fairly common today, but it is rarely thought about in terms of what it means in contrast to other types of foundations - personal, corporate or institutional. No doubt there are many types of family foundations. This family has struggled to find and give meaning to the concept of family and recently engaged in a generational transfer which was complicated but interesting. We think that process may be helpful to others.
Family in this context means a group of relatives seeking to collaborate. Personal means what it says; it represents the interests primarily of one person. And, Institutional means professional managers acting for an independent board.
The Norman Foundation began as an act of testamentary generosity by Aaron E. Norman at the end of his seventy-six-year life of success and concern for people who lacked economic and/or political control over their lives.
Norman's two children began with what amounted to two personal foundations, combined as one, through which they supported for about twenty years their quite different interests both with their own funds and the funds of the original foundation funded with Norman's bequest.
By the 1950s Norman's five grandchildren succeeded early in their lives - at twenty to thirty years old - to their parents' responsibilities growing out of Norman's bequest. That is the time when the Norman Foundation really began to be a "family" foundation. Each of those grandchildren, of whom this writer is one, had both personal interests and shared common interests particularly in the area of civil rights and liberties. To help distinguish and separate personal from general philanthropy that generation created in the 1960s, with starting contributions from the Norman Foundation, five new smaller foundations to enable and allow each member of that generation to pursue their personal interests independently and at the same time to preserve and build the core of the Norman Foundation on a collective family-wide basis.
Over the forty-plus years following the grandchildren's (third generation) assumption of leadership their total of sixteen children (fourth generation) were brought onto the Norman Foundation Board as they became adults. That fourth generation now ranges in age from mid-thirties to early fifties.
Naturally, over time the collective, family-wide decision making process became much more cumbersome and complicated. There were naturally a lot of new agenda based on geography, education and dispersal of personal interests. And, there was, of course, a normal urge by the coming generation to become more actively involved. The third generation by chance, as it were, came "to power" very young. The fourth generation was destined to wait longer and be much older than the third generation by the time the older generation was gone. And, there were a lot more of them which made the process of acting together much more complicated.
As the new century was about to arrive the family had a major meeting to consider various ideas of how to manage the devolution of the family's philanthropic assets in such a way as to:
That was a tall order to achieve in a fair and balanced way. It wasn't easy but it was largely accomplished. And, it is now already showing signs of becoming effective.
What was done was as follows:
Thus, this family foundation is seeking to extend and enhance the relevance of the true meaning of the word family in the context of how a foundation can work. In many ways a family foundation exists primarily to give expression to that family's philanthropic interests. But, as those interests inevitably will be many and diverse, a process to make that expression work in a politically manageable and acceptable way had to be found. We hope and believe that what we have wrought will work for us. And, we hope that by explaining how and why we went about this process might be a little bit instructive and helpful to others as they may encounter similar challenges in the years and generations that lie ahead for the growing number of family foundations in the United States that we believe fill an important need in meeting our pluralistic society's needs.
I need to start a foundation asap. I have everything I need expect the legalies and knowhow.
I live in a unique and beauiful place, known for something that will make beautiful pieces of jewery, from precious to faux gems and metals.
The Foundation would recieve what it needed to run and get the jewery made and marketed, that's it. There is no reason why people like my son have to go through these rotton diseases and worry about money besides, familys break themselves finacially trying to help and the person with the disease feels horrible to even ask. They shouldn't have to. I can make this happen, I just don't know how. It won't be just for cancer sufferers and will continue not matter what.I need to know where to start and I need to start asap.
Please keep those that are ill in pray and your places of worship as we had been so lucky with that from the beginning.
, Right now I need something a little more material. I no better than to ask for fair, but I do ask for expertice.
I have been stopped on the street since he was a baby with people telling me how beautiful he is,and he is, inside and out. I have to do this for him and everyone like him.
dealing with, in a "perfect world" there would be no disease.
Since thats not the case, next best thing, u win a lottery, or someone with the money backs you and guides you.