More and more family owned businesses, from the largest to the smallest, are engaging in philanthropy. Many family businesses use philanthropy as a way to develop and commit to fundamental family values for current and future generations; publicly express the values of the family business, support the community, and benefit from the attendant reputational goodwill; provide an opportunity for family members not active in the family business to further the family business values in a meaningful way and to teach younger generations about philanthropy and the family business’s culture and philosophies; and, provides an opportunity to involve valued employees of the business, family and non-family, in activities to strengthen their bonds and commitment to the family business, and afford them an opportunity to support the family business’s values, add value to the community, and build and maintain camaraderie and morale.
There are many options for a family business to carry out its philanthropic activities and goals, including:
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