By Matt Vuorela / Chief Executive Officer of Steier Group
Money is a topic that many shy away from talking about openly. Not at The Steier Group. Our experience tells us that discussing finances and goals with others helps carry forth personal values and legacy.
For families, this means teaching the next generation how to steward what they have been given. For churches and nonprofit organizations, it means recognizing that tomorrow’s donors are being formed today. No matter the amount there is to pass down, equipping the next generation to plan and give thoughtfully helps fuel mission-driven work for years to come.
Conversations about philanthropy don’t have to be centered around dollars and cents. When families intentionally practice generosity and pass on a spirit of service, the Church and our various communities are strengthened.
Philanthropic Strategy and Planning
Philanthropy offers a meaningful way to carry forward shared values and beliefs. Intentional planning around philanthropic efforts creates opportunities for family members of all ages to come together, strengthen relationships and collaborate in building a lasting legacy.
But philanthropy is constantly evolving. And it isn’t a given that younger generations will share the same values or preferences and therefore direct their own giving in the same ways. This is where that open dialogue about money and legacy comes in.
Here is how to start bringing a family philanthropy plan to life and communicate it with others:
- Reflect on your core values: Clarify what matters most to you now and what kind of legacy you want to leave.
- Engage other family members in the conversation: Invite your immediate family members to talk about your philanthropic priorities – and ask about theirs. Younger generations may or may not be aligned and you can talk through many perspectives.
- Research and decide how you wish to give: Many giving methods are possible including a Donor-Advised Fund (DAF), planned gift and other structured tools.
If those are terms you are not yet familiar with, we’ll explore what they mean below – and how each can help fit a family’s giving goals.
Philanthropic Vehicles and Tools
There are many types of giving methods that allow individuals to coordinate between their family’s values, goals and financial strategies.
Private Family Foundations
Family foundations are one common example. A foundation is a 501(c)(3) organization that supports charitable work, primarily by awarding grants to nonprofits.
Establishing a family foundation is a popular option in the philanthropy world, especially for donors with high capacity who wish to share their wealth over time. Private foundations allow flexibility and personal control over giving. Beyond financial resources, a foundation requires an investment of time to build the proper operating framework. This is a factor to keep in mind.
Donor-Advised Funds (DAFs)
Another common structure for family giving is through donor-advised funds (DAFs).
Donor-advised funds are accounts established through public foundations that allow families to designate large charitable gifts, receive an immediate tax deduction and then recommend how funds are distributed over time. Many families appreciate the flexibility and tax advantages that DAFs offer, while allowing them to create lasting impact for many ministries and other organizations.
Planned Gifts
Planned gifts let donors support the causes they care about while also preparing for their own or their family’s financial future. These gifts can be a key part of family wealth planning, as they encourage conversations about shared values as part of the process.
Something to note is that the National Center for Family Philanthropy’s Trends 2025 Report found that 35% of respondents from younger generations have less time to dedicate to their family’s philanthropy. Indeed, generational dynamics and perspectives on wealth and lifestyle strongly influence how (and how much) a person may give. Planned giving programs can be a tool for busy individuals and families to responsibly steward the blessings they’ve received.
Direct Gifts
Making a gift directly to a nonprofit is one of the simplest ways to show support. In fact, the Trends 2025 Report found that the most frequent route for individual giving is via direct donation (57%).
However, there is an emerging trend that shows a move away from one-time or spontaneous giving, toward ongoing, more strategic giving. According to NP Source Charitable Giving statistics, 52% of millennials (individuals 29-44 years old) are more likely to give monthly rather than a one-time donation. This statistic highlights the importance and power of recurring, sustainable income. Millennials, in their prime earning years, are also in some potentially large giving years. For any family preparing for a significant transfer of wealth, it’s a good idea to explore this generation’s giving preferences and how they match with yours.
Other Family Philanthropy Considerations
Before deciding the best option for personal or family giving, it’s important to go through the steps recommended above, reflecting on specific passions and goals.
As philanthropy evolves, choosing the right giving vehicles remains essential.
Strategic and Impactful Giving
Being aware of giving vehicles and trends is a good start. Next is to be intentional about how to use information like this to shape a philanthropy plan.
For donors, having a giving strategy to relay to family members helps make intentions clear.
For churches and community organizations, being strategic also means being flexible and responsive. Donors have different preferences; some may prefer to engage with an organization through volunteering as a family unit, some through DAFs and others in other ways. As we work with clients, one thing we see consistently is a growing desire from supporters to grow their level of awareness in how an organization uses its funds.
This is something our team finds encouraging for Catholic and other mission-driven organizations.
In fact, more charitable dollars in the United States continue to go to religious organizations every year than to any other cause, according to NP Source Charitable Giving statistics.
The good news here for those in the Catholic community is the collection of meaningful stories available to help connect donors to mission.
Donors respond best to fundraising solicitations when an organization’s unique stories of impact are shared with them alongside the ask. At The Steier Group, we’ve helped write and design communications that have helped raise over $3.4 billion from individuals, families and foundations using that approach.
As we worked with the Diocese of Wichita on its recent capital campaign, storytelling was one of the keys to success in surpassing their goal. Before asking for dollars to direct to their youth and family camp, supporters first heard stories about how the lives of priests and other community leaders were shaped by attending the camp. Showing donors how their gift of time, talent and treasure makes a tangible impact typically inspires further support.
The takeaway here for families is that telling family members frequent stories of why a certain organization or cause is important could help endear the next generation of wealth holders to maintain their support.
Family Engagement in Philanthropy
Family engagement in philanthropy can start at a young age. Beyond telling stories of impact, a common recommendation we hear is for families to prioritize financial education for their children. This means talking about spending, budgeting and investing in age-appropriate ways. For both families with large amounts of wealth and those with more modest means, it can be helpful to position philanthropy as an honor and responsibility.
Involvement in financial planning will look different depending upon age. For example, a middle schooler could help plan a family’s vacation itinerary using a specified budget. Doing this helps instill thoughtfulness before the idea of wealth transfer and family legacy ever comes up. Additionally, if you support a Catholic school campaign, engage your children in this effort. Show them the importance of a supporting a cause important to them.
Volunteering is another practical way to involve young people in a family mission. If a family already has a focus area for their giving, children can help research and even schedule volunteer shifts at organizations that match the family’s interests and hobbies. If not, children can be invited into the decision-making process of which types of organizations to direct support. This helps make a difference in a way that feels more authentic and fulfilling. And it sets the stage for future financial contributions.
Consider this: 79% of people who volunteer with a nonprofit also contribute financially to the organization, according to NPSource statistics. Volunteering is a great way to start bringing family philanthropy to life.
The National Center for Family Philanthropy also shared an idea from the Sartain Lanier Family Foundation, which created a learning ladder for younger generations to engage with and become educated about their family’s foundation as they grow older.
Legacy and Succession Considerations
The fact that families these days are so busy makes it hard to plan the present, let alone the future. That makes legacy and succession planning even more important, so there is continuity in philanthropic vision. Something to keep in mind is that wherever we visit, whatever the age of a donor, we find that supporters are most passionate about issues they feel closely connected to – whether that’s family connection or direct life experience. In other words, major gifts grow out of personal connection. Families can get creative organizing experiences that engage younger family members, such as shadowing board meetings and/or visiting a nonprofit office to meet the staff and who they serve.
Check out the National Center for Family Philanthropy for a list of other tips for effective next-generation engagement.
Advisor Support and Professional Guidance
The Steier Group has helped hundreds of clients develop endowment strategies and creative ways to show impact. But a financial advisor and/or attorney are the best contacts for families to consult on guidance related to wealth management.
After all, Proverbs 15:22 tells us that “plans fail for lack of counsel, but with many advisers they succeed.” Reaching out to local wealth managers and estate planners can help a family steward their blessings in alignment with their values–and tax codes.
Conclusion: The Future of Family Wealth Philanthropy
Not many families spend time thinking about how future generations will continue their legacy of faith and generosity. It may not seem urgent but taking time now to define your financial and philanthropic plans and priorities is an effective way to preserve that legacy.
So, start now. Talk with your family members and financial advisors. Today’s planning becomes hope for tomorrow–and well into the future.
Sources
2018 Online Giving Statistics, Trends & Data: The Ultimate List of Giving Stats. (n.d.). In Nonprofits Source. Retrieved November 25, 2025, from https://nonprofitssource.com/online-giving-statistics/
Capital Campaign Communications Solutions. (n.d.). In Steier Group. Retrieved November 25, 2025, from https://www.steiergroup.com/services/communications/
Norton, B. (2025a). Stewardship, campaign success go hand in hand for Diocese of Wichita. In Steier Group. https://www.steiergroup.com/steier-wire/stewardship-campaign-success-go-hand-in-hand-for-diocese-of-wichita/
Vuorela, M. (2025b). Legacy vs Planned Giving: Which Is Right for You? In Steier Group. https://www.steiergroup.com/blog/legacy-giving-vs-planned-giving/
Planning for Effective Next-Generation Engagement. (2025). In NCFP. https://www.ncfp.org/2025/07/24/planning-for-effective-next-generation-engagement/
Steier, J. (2021). Endowment campaign strategies that work. In Steier Group. https://www.steiergroup.com/blog/endowment-campaign-strategies-that-work/4
Trends 2025. (n.d.). In NCFP. Retrieved November 25, 2025, from https://www.ncfp.org/trends-2025-release
What is a donor-advised fund? (n.d.). In Fidelity Charitable. Retrieved November 25, 2025, from https://www.fidelitycharitable.org/guidance/philanthropy/what-is-a-donor-advised-fund.html
Who we are – Meet the Steier Group. (n.d.). In Steier Group. Retrieved November 25, 2025, from https://www.steiergroup.com/who-we-are/
