Case Study: Family Foundation
A Family Foundation’s Board Members need help redefining the Foundation’s mission. They also want to engage third generation family members in the Foundation’s activities, and identify opportunities for education.
Boston Private Solution
The Boston Private Client Team spent a full day with the Board Members to review the Foundation’s processes currently in place. The team then developed personalized solutions for the Foundation, including:
- Philanthropic Services, including strategic planning, mission focused exercises, and succession planning.
- Investment Management, ensuring investments are on track and align with the Foundation’s charitable mission and with the family’s goals.
- Foundation Management, Client Advisor regularly interacts with Trustees and family members to keep Foundation work on track. Client Advisor also plans and manages the Foundation Board Meetings, and prepares all docket materials.
- Technology, works with the family to update the Foundation’s website and to determine how to best position the Foundation. Also curates and manages a centralized, online portal for Board Members to access historical Foundation documents, and prepare for meetings. The new online tool is aligned with the family’s mission of being environmentally focused by reducing paper.
- Tax Preparation, including preparing the annual 990PF and all relevant state filings on behalf of the Foundation.
- Family education, using a customized curriculum developed by Boston Private to educate third generation family members.