Rethinking philanthropy: How business families take on social responsibility

More and more business families are not only taking responsibility for their economic activities, but also for social challenges. The new practical guide "Philanthropy in Transition", published by the WIFU Foundation based at Witten/Herdecke University, shows how they can organise their philanthropic commitment in an effective, sustainable and innovative way.

Whether donations, joint endowments, impact investing, social business or giving funds - the reference guide, written by Andreas Schiemenz (SINNGEBER gGmbH) and Tom Rüsen (WIFU Foundation), offers a first compact overview of the diverse possibilities of modern philanthropic engagement. It focuses in particular on the so-called NextGen - young family members who want to contribute their own values and ideas, but often encounter hurdles, for example when it comes to ensuring the sustainability of their philanthropic projects.

In addition to practical case studies and a self-check for entrepreneurial families, the reference guide contains impulses for the strategic orientation, implementation, optimisation and impact measurement of charitable activities. (Tax) law aspects are also presented in an understandable way.

The publication is aimed at all business families who want to consciously fulfil their social responsibility and position themselves professionally.

"Commitment is anchored in many business families," says Andreas Schiemenz. "But philanthropy today is much more than generous giving - it is an active contribution to social change," adds Tom Rüsen.

The reference guide, together with other publications from the WIFU Foundation, is available online free of charge at: www.wifu.de/bibliothek. For further information, please contact Dr Ruth Orenstrat at ruth.orenstrat@wifu-stiftung.de or +49 2302 8898303.