Equity Trustees supporting all approaches to philanthropy
Philanthropy is a life-long process, a learned skill that evolves over time; it may start by sending your granting recommendations to your Relationship Manager in April each year. But how involved you get is up to you.
In the busy-ness of our lives, managing the family’s philanthropy and giving legacy can sometimes be an ‘end of financial year’ task or something that is done when a friendly reminder pops up from your Relationship Manager.
Equity Trustees supports all kinds of approaches to philanthropy:
1. Creating a giving strategy
2. Undertaking research around your favourite cause areas and beneficiaries
3. Attending lectures and thought leadership sessions
4. Meeting other philanthropists or grant beneficiaries, and
5. Volunteering your time or expertise, when the opportunities are available.
The below are some actions that might assist you review, reset or reaffirm your philanthropy:
| CHECKLIST |
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| Giving Consultancy |
Giving Consultancy is Equity Trustees’ in-house consulting service that aligns your family values to your philanthropic giving. Whether you’re just starting out or have been actively donating for decades, it’s a great opportunity to create or refresh your philanthropic strategy. |
Emerging philanthropists
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Do you have children, nieces or nephews that are connected to your philanthropic journey? If you feel that it’s the right time to increase their involvement, consider organising an introductory meeting with your Relationship Manager. We also host events at Equity Trustees specifically for emerging Philanthropists. |
Learning events
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We now run a calendar of regular events where Active Philanthropists can meet and share ideas around giving.
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| Hearing from your grant beneficiaries |
Would you like to hear more about your grant beneficiaries? Please let us know if you would like to receive their regular reports and newsletters.
Additionally, attending events hosted by for-purpose organisations can be a valuable way to stay up-to-date with the charitable sector. |
Discovering
for-purpose organisations |
You may know the cause areas you want to focus on, but unsure which organisations to support within those areas. Many philanthropists spend time exploring organisations that are making impact in the areas that matter most to them, including learning about specific projects and even arranging a virtual or on-site meeting. |
| Letter of Wishes (LoW) |
Your sub-fund is designed to last into perpetuity. That’s a long time. Passing your wishes on to your future successor/s is important.
A LoW is a document that outlines why you established the sub-fund as well as your ongoing wishes for it. This is important, as by recording the story of your philanthropy it can be shared with future generations.
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| Successor/s |
If you are still developing your giving strategy and not yet ready to complete a LoW, it is still important to confirm to Equity Trustees who you would like to appoint or confirm as successor/s to your legacy.
Your successor/s details may also have changed since establishing your sub-fund, so it is important that Equity Trustees has up-to-date contact details on file. |
Estate Planning
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The giving that you’ve been doing throughout your life can be expanded after your death, should you wish to leave a portion of your estate to your sub-fund within your will. If you are working with your solicitor to update your estate plan, we can provide appropriate wording relating to your sub-fund for inclusion in your will.
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If you would like assistance with any of the above, please contact your Relationship Manager.
What would a typical year look like for a philanthropist?
| MONTH |
TYPICAL ENGAGEMENT |
| From July |
• Create or revisit your family’s Giving Strategy
• Prepare or review your LoW
• Ensure your successor/s’ details are updated with Equity Trustees
• Engage with your Relationship Manager around your areas of giving interest and map opportunities to engage
with the for-purpose sector |
| August - February |
• Identify if a peak body or philanthropy interest group exists for your area/s of giving interest
• Sign up to mailing lists for newsletters, webinars and events
• Interact with existing and potential grant beneficiaries
• Organise a face-to-face / virtual / site tours with organisations of interest
• Attend Equity Trustees philanthropy events |
| February - March |
• Discuss your granting intentions for the year with your family or successors
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| March |
• Confirm your granting recommendations to your Relationship Manager
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| April - June |
• Consider whether your family would like to make additional contribution/s to your fund
• Equity Trustees completes due diligence and implements your family’s granting recommendations |
If you’d like our assistance in thinking through your philanthropy and the tasks ahead, please contact your Relationship Manager.