‘Generation Impact’ is Taking Over
Research says that the rising generation of family philanthropy will take a different approach to giving. For us, impact drives our giving decisions and we want to see, touch and feel the difference our gifts are making in the world. That said, while some things change, others stay the same. Our core values, commitment to legacy and giving close to home connect us to our previous generation. I’ve personally experienced this around the boardroom of my family’s foundation, so I was thrilled to dive into the topic deeper with Michael Moody, Frey Foundation Chair for Family Philanthropy at the Johnson Center for Philanthropy at Grand Valley State University. Michael is also co-author of Generation Impact How Next Gen Donors Are Revolutionizing Giving.
Topics discussed in this episode:
- Meet Michael Moody (2:10)
- Why ‘generation impact’ and why now? (4:20)
- Welcome to the ‘golden age of giving’ (6:15)
- What is the impact revolution? (10:56)
- Define impact (12:05)
- Honoring family legacy (15:41)
- Multigenerational board = a team sport (20:51)
- Managing power dynamics with grantees (24:53)
- Building relationships requires mutual respect (29:36)
- A multi-generational values exercise (37:53)
- Values persist (38:57)
- Understanding identity dynamics (41:28)
- Fail forward (43:45)
- Developing skills outside of the family (44:50)
- Where to find Michael Moody (47:08)
- Bonus Questions (48:07)
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Notable and Quotable:
“There’s an incredibly important group entering the field of giving who are going to be the biggest, most significant philanthropists in history.” —Michael Moody #successfulgenerations
“Gen X and Millennials want to give in new, innovative, different and revolutionary ways.” —Michael Moody #successfulgenerations
“This is the golden age of giving because there are significant resources available and it is also a time of dramatic change.” —Michael Moody #successfulgenerations
“The next generation will have more to give than any other previous generation.” —Michael Moody #successfulgenerations
“We are in the middle of the greatest transfer of wealth in history.” —Michael Moody #successfulgenerations
“Next generation donors are obsessed with impact. They want impact to be their generational signature.” —Michael Moody #successfulgenerations
“The next generation defines impact as results that can be seen—real changes in the world that prove the effectiveness of their giving.”—Michael Moody #successfulgenerations
“The next gen remains interested in the perennial problems that philanthropy has been working to address for decades, but they want to change the strategy to move the needle.” —Michael Moody #successfulgenerations
“They (next gen donors) want more tools in their giving toolbelt.” —Michael Moody #successfulgenerations
“Respect does not mean sitting at the kids table.” —Michael Moody #successfulgenerations
“For the next gen, the best way to be effective is to be part of a team.” —Michael Moody #successfulgenerations
“Strategic approaches to giving might differ, but values are more in common than you might think.” —Michael Moody #successfulgenerations
“Families need to allow the next generation to experience things and fail forward.” —Michael Moody #successfulgenerations
Resources mentioned in this episode:
Johnson Center for Philanthropy
Generation Impact (book and other resources)
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