The multi-family office Threshold Group and the National Center for Family Philanthropy will work together on building links between private family foundations and family offices under a new initiative.
The organizations will produce research, publish reports and use social media to identify and publicize “best practices” for how family offices and private foundations can work together to create the biggest overall impact.
NCFP, a nonprofit, will create an advisory committee to oversee the initiative, while Threshold Group will provide funding and help with the research and educational processes. Work is set to begin in the second half of this year.
The initiative will try to identify exactly how wealthy families are using family offices to support and manage their foundations and philanthropic efforts, and at the same time how family offices are helping families achieve their philanthropic goals, said Virginia Esposito, president of the NCFP.
“The hope of both organizations is that this initiative will lead to an annual survey in 2013 on the family philanthropy field and its trends,” Threshold and NCFP said in a joint statement.