As valentines day was yesterday, we’d like to celebrate love by looking into philanthropy work with your partner. Before you start this adventure together, it is best to look through the pros and cons as there are many things to consider before jumping into this commitment with each other.
How to get started
Getting started surprisingly isn’t the hardest part of philanthropy. There are so many questions you have to ask yourselves, therefore starting as a couple brings in even more questions! But it is a pretty simple task in itself. You just need the patience and time to go through everything together. Such as;
- What are your joint values?
- Where is it that you differ on opinions?
- Is this something you’d like to past down to your family? Or to leave a legacy?
- Are there any limitations to your giving?
This is the step where you may find out new information about your partner and their values/motivations.
Starting this venture together can happen at any time. For some, it is as soon as the wedding day. For example, the Duke and Duchess of Cambridge used their wedding day as a way to receive donations for their joint foundations. Their wedding gifts were given out to 26 different non-profits.
For others, it doesn’t start until they have grown their own wealth or their companies. Every couple is different as well as their reasoning for giving. Make sure the time is right for you.
Time to start giving
It is sad to say, no matter how true, but equality in society is still something that we strive for. When it comes to power, money and decision making there is still some work to be done and this can be translated into your couples philanthropy.
From the start, guidelines must be put in place to help organise these issues. Figure out how decisions will be made and who will be involved in this process. Should you get in some outside support or other family members?
This decision could be coupled with that of who spends the most time on the philanthropic activities. Assuming you both still work, have other passions or priorities, one person will probably be spending more time with the family foundation/giving than the other. Deciding this upfront will save a lot of hassle, and potential arguments, later down the line.
Deciding how much money to put into you couples philanthropy can be tricky. Most couples only jump into philanthropy when they have reached a certain amount of wealth. When deciding on your philanthropy budget, you also have to consider the costs for the donations as well as the other costs involved, such as paying a philanthropy advisor or setting up a foundations/extra accounts.
Philanthropy as a couple is not just something to be jumped into. There is a lot to consider, however, the majority of the decisions come down to who the two of you are as individuals and together. As long as you and your partner are on the same page, it will be a beautiful experience for the two of you.
Famous Philanthropy Couples
As stated before the Duke and Duchess of Cambridge, Will and Kate, have been taking part in philanthropy together since there wedding day. Even their first public outing after their marriage was a benefit for a charity and they continue to do great work donating money and raising awareness for many causes.
The Gates are the biggest names in philanthropy, whether as a couple or separately. Bill and Melinda Gates started up their foundation in 1997 and have given over $36 billion! They also created the Giving Pledge, to persuade over people within the 1% wealth bracket to use the wealth to help others.
Another computer genius couple, the Dells, have been a huge name in philanthropy for a long time. However, they show a slightly different dynamic with Susan being the main face and leader of their programme.
Becoming a philanthropy couple is not an easy task however the benefits for you and society can be monumental. As they say, two brains are better than one (and two pockets). It can also do wonders for a relationship – helping you bond, share your passions and values, and collectively have an impact on the world.