NCFP’s From the Archive series highlights resources from our Knowledge Center that have stood the test of time and continue to provide valuable guidance for the field.
All families go through transitions, be it births or deaths of family members. Institutions, too, experience transitions—from changes in staff or board leadership to financial fluctuations and shifts in strategic direction. Family philanthropy experiences transitions both in the family and in the philanthropic vehicle, and often concurrently.
In this issue brief from 2015, NCFP Founding President and Senior Fellow Ginny Esposito explores the opportunities that moments of transition present, common challenges and how to navigate them, and pitfalls to avoid. In particular, Esposito outlines the four most common transition points that result in tension and tumult and how to successfully move through them including:
- The retirement or death of the founder(s)
- Generational inclusion and succession
- Board leadership transitions
- CEO transitions
“The extent of that tumult and tension directly correlates to early planning, strength of board commitment, and a strategy designed principally to advance the giving mission and impact.”
While transitions and change can be challenging, Esposito provides tips to navigate them well and with thoughtful attention to family dynamics. Moreover, she shares guidance about policies and practices that families can implement now to support smoother transitions in the future.
Read the full publication to understand how to prepare for and manage the inevitable transitions your family philanthropy will encounter.
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