It has been two years since our last national retreat for young people involved in their family’s philanthropy, and this year’s Transforming Philanthropy retreat from March 22-25 in Pomona, CA included many changes and innovations. First of all, we have changed the name of the retreat from Transforming Family Philanthropy to Transforming Philanthropy because we are now including high net wealth individuals — those in the top 1% who have access to $1M or more in liquid assets — in the retreat.
Second, we piloted our giving pledge at our action booth. Resource Generation has always encouraged members to increase their giving and provided the skills, education, and training to our members to do so. However we have not had had a standard approach or guidelines for moving our members to give more and more of their net assets away, and we experimented with a beta version of our giving guidelines at the retreat.
The giving guidelines go from starting the journey by giving a percentage of capital gains and dividends (returns from the stock market), to pausing wealth accumulation by giving at least 7% of net assets (7% is the … Continue reading »