Building Lasting Legacies: Philanthropy and Private Foundations Explained
We all aspire to leave a lasting impact during our time on Earth. Building a legacy allows us to continue influencing lives even after we're no longer here.
Consider a trust established over fifty years ago with an initial funding of about $2 million. Its purpose was to aid those facing challenges such as food insecurity, housing instability, and domestic abuse. Managed effectively, this trust has grown significantly, now totaling around $40 million in value. Over the years, it has disbursed more than $40 million in grants to various nonprofits.
Imagine the countless lives touched by this ongoing goodwill—a testament to a life well-lived and a steadfast commitment to enriching others for generations to come.
Marcie Braswell, Executive of Regions Philanthropic Solutions, emphasizes their group's role in helping affluent individuals, families, private foundations, and nonprofits build a legacy of giving. With over a decade of experience in crafting impactful giving strategies, Braswell leads a team that has been instrumental in establishing enduring philanthropic legacies for clients.
Regions Wealth Management, collaborating closely with their clients, has facilitated the establishment of over 300 private foundation accounts. Together, these foundations have channeled hundreds of millions of dollars into communities across Regions' expansive 15-state footprint and beyond.
"When clients express their desire and ability to support causes dear to them, whether it's supporting educational institutions, aiding the homeless, or revitalizing underserved communities," says Braswell, "it's incredibly fulfilling to help them realize their long-term philanthropic goals."
Braswell highlights that the process of creating a private foundation begins with a deep understanding of the client's mission and desired legacy. This approach allows for significant flexibility in defining the foundation's impact.
Jeff Winick, Senior Wealth Strategist in Private Wealth Management at Regions, notes the unique nature of private foundations. Unlike public charities that receive donations from the general public, private foundations typically draw funding from a single source—be it an individual, family, or corporation. This specificity necessitates careful consideration and scrutiny of the assets involved in funding these foundations.
In essence, creating a private foundation is not just about giving money—it's about crafting a lasting legacy that reflects the values and passions of the donors, ensuring their impact endures beyond their lifetime.
Consider a trust established over fifty years ago with an initial funding of about $2 million. Its purpose was to aid those facing challenges such as food insecurity, housing instability, and domestic abuse. Managed effectively, this trust has grown significantly, now totaling around $40 million in value. Over the years, it has disbursed more than $40 million in grants to various nonprofits.
Imagine the countless lives touched by this ongoing goodwill—a testament to a life well-lived and a steadfast commitment to enriching others for generations to come.
Marcie Braswell, Executive of Regions Philanthropic Solutions, emphasizes their group's role in helping affluent individuals, families, private foundations, and nonprofits build a legacy of giving. With over a decade of experience in crafting impactful giving strategies, Braswell leads a team that has been instrumental in establishing enduring philanthropic legacies for clients.
Regions Wealth Management, collaborating closely with their clients, has facilitated the establishment of over 300 private foundation accounts. Together, these foundations have channeled hundreds of millions of dollars into communities across Regions' expansive 15-state footprint and beyond.
"When clients express their desire and ability to support causes dear to them, whether it's supporting educational institutions, aiding the homeless, or revitalizing underserved communities," says Braswell, "it's incredibly fulfilling to help them realize their long-term philanthropic goals."
Braswell highlights that the process of creating a private foundation begins with a deep understanding of the client's mission and desired legacy. This approach allows for significant flexibility in defining the foundation's impact.
Jeff Winick, Senior Wealth Strategist in Private Wealth Management at Regions, notes the unique nature of private foundations. Unlike public charities that receive donations from the general public, private foundations typically draw funding from a single source—be it an individual, family, or corporation. This specificity necessitates careful consideration and scrutiny of the assets involved in funding these foundations.
In essence, creating a private foundation is not just about giving money—it's about crafting a lasting legacy that reflects the values and passions of the donors, ensuring their impact endures beyond their lifetime.
Companies