Each of our families has a different focus because each has a different set of influences. Our philanthropic approach focuses on fully understanding your family’s unique perspective and core values. Only then can we determine how best to structure philanthropic vehicles and investments to achieve the greatest impact.
We begin by working through the family’s Why module and create an overarching Purpose-Driven Impact statement. Next, we move to the What module which establishes the family’s capital deployment type via funding preferences, timeline, administrative type, priorities, UN Sustainable Development Goal alignment, and leadership style. We also develop sample mission statements for the various funding preferences and impact goals. At this stage the path forward becomes more evident. Last, we align the family’s impact goals to philanthropic vehicle options, the How module.
Amplify Impact: How do you best combine philanthropic vehicles to accomplish your family’s philanthropic, income, estate, governance, and next generation goals?
The Philanthropy & Impact team delivers the Amplify Impact report to your Wealth Strategist and Investment Advisor. This report will detail all the Why and What modules plus give clear direction on the philanthropic vehicles that are most aligned with the family’s capital deployment type. Additionally, the Amplify Impact report details the family’s ranking of the UN Sustainable Goals, when appropriate. The Wealth Strategist has, at this point, more detailed information than ever before to align capital deployment types with the best philanthropic vehicles for the family’s approach to tax efficiency – both for income and estate planning purposes.
For example, families who are not yet ready for pure philanthropy may prefer opening a 501c4 or 527 to advocate for their pet causes, while also opening a Philanthropic Purpose LLC to invest in early stage impact entrepreneurs. More traditional philanthropic approaches will often include donor advised funds, charitable trusts, private family foundations, and public operating charities. But each vehicle has a certain function, funding source and place to execute on the family’s overall Purpose-Driven Impact statement.
Likewise, the Amplify Impact report provides the Investment Advisor with a clear indication of the family’s investment priorities and values. There are many ways to implement responsible investing, which is why our approach at PNC is a process, not a product. Working with the Nick Ashburn, Head of Responsible Investing, and his group, plus the Responsible Investing Advisory Group members, the Investment Advisor can help the family further explore aligning their values with their investments in their philanthropic vehicles and beyond.
To get started finding your How of philanthropy, contact your PNC Private Bank Hawthorn Advisor.
The PNC Financial Services Group, Inc. (“PNC”) uses the marketing names PNC Private BankSM, PNC Private Bank HawthornSM, and Hawthorn Institute for Family SuccessSM to provide investment consulting and wealth management, fiduciary services, FDIC-insured banking products and services, and lending of funds to individual clients through PNC Bank, National Association (“PNC Bank”), which is a Member FDIC, and to provide specific fiduciary and agency services through PNC Delaware Trust Company or PNC Ohio Trust Company. PNC does not provide legal, tax, or accounting advice unless, with respect to tax advice, PNC Bank has entered into a written tax services agreement. PNC Bank is not registered as a municipal advisor under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
“PNC Private Bank,” “PNC Private Bank Hawthorn” and “Hawthorn Institute for Family Success” are service marks, of The PNC Financial Services Group, Inc.
Investments: Not FDIC Insured. No Bank Guarantee. May Lose Value.
Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.