Today’s donors are redefining what it means to give. Philanthropy is no longer just about writing checks or leaving behind a legacy. Increasingly, families are looking to make a meaningful impact during their lifetime — strategically, intentionally, and in alignment with their values.
At Trust Point, we see how families are reimagining charitable giving. Whether through donor-advised funds (DAFs), private family foundations, or collaborative strategies, the focus is shifting toward engagement, flexibility, and generational involvement. Philanthropy, for many, has become a powerful tool for doing good and bringing families together.
The Staying Power of Private Foundations
For families seeking a long-term approach, private family foundations offer a high level of control and involvement. Structured as independent charitable entities, this path allows families to direct grants to causes they care about while involving multiple generations in the decision-making. Beyond the philanthropic impact, it can reinforce shared values, teach financial stewardship, and foster collaboration across age groups.
The entity can be designed to support a wide range of causes or focus deeply on a single mission. That flexibility makes it a powerful tool for shaping both impact and identity over time.
This path can also come with some administrative complexity. Legal filings, governance protocols, tax reporting, and annual distribution requirements all factor into whether a foundation is the right fit. Many families begin exploring this option after identifying a significant giving goal — often in the $1 million+ range — and a desire to stay closely involved in the process.
The Rise of Donor-Advised Funds
While private foundations are an option for some, DAFs have become a great choice for families seeking flexibility with fewer administrative demands. DAFs allow donors to contribute assets, receive an immediate tax deduction, and recommend grants to charities over time. They’re particularly useful for those making a large gift during a high-income year or after a liquidity event, with the ability to spread donations out strategically. Many communities have established DAFs, like the La Crosse Area Community Foundation, for donors who want to ensure their charitable impact remains local.
DAFs also offer a simple way to involve the next generation. Many allow for successor advisors, making it easier for children and grandchildren to participate in or continue the family’s charitable efforts.
Bringing Generations Together
One of the most powerful aspects of modern philanthropy is its ability to bring families together around a shared purpose. Involving children and grandchildren in giving decisions can create meaningful conversations and instill lifelong values. Some families hold annual meetings to discuss which causes to support, while others include younger members in grant reviews or volunteer activities. Over time, these practices not only strengthen family bonds but also ensure continuity in charitable efforts.
Both DAFs and family foundations can serve as vehicles for this type of multigenerational engagement, offering structure and opportunity for thoughtful collaboration.
Creating a Lasting Legacy
There’s no singular approach to philanthropic giving. While some families prioritize the simplicity of DAFs, others are drawn to the structure and long-term vision of a foundation. Many choose to combine strategies based on their goals and desired level of involvement.
What matters most is having a plan that reflects your values and evolves with your family. At Trust Point, we take a comprehensive approach to philanthropy, helping families align giving with broader financial and estate planning goals. From setting charitable budgets to overseeing grant activity, we work to create giving strategies that support lasting impact.
Our approach is rooted in care and clarity, designed to offer the kind of support we’d want for our own families. With the right tools and guidance, you can turn today’s giving into tomorrow’s legacy — strengthening relationships, inspiring future generations, and making a lasting difference.
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By: Brenda Stuhr VP, Wealth Management/Learning & Development & Jennifer Gander, CFP®, CPA, Relationship Manager
