Family Foundations

Though the major source of philanthropic funding in the United States continues to be the individual donor, the role of the family foundation is significant.

Through their giving, generations of a family come together around helping others and one of the most beautiful aspects of wealth accumulation, the ability to help in a sustainable way, is realized.

In this story from Philanthropy, one family’s giving is profiled.

An excerpt.

“But as with their career in business, the Anschutzes’ philanthropy started much more modestly. In the beginning, they gave here and there, as things occurred to them. “For many years, Phil had been doing a variety of things anonymously that nobody ever knew,” explains Mrs. Anschutz. By the late ’70s, however, they recognized that “it was time to pull it all together and put it into one entity.”

“I helped my father set up a foundation in 1978,” Mr. Anschutz explains. “That led us to begin thinking about setting up a foundation as well—a foundation for ourselves. We finally did in 1983. We started at that time with a lot of good intentions, not a lot of capital, because we were still very much in the business of building capital.”

“I never had a mid-life crisis, thank goodness,” Mr. Anschutz chuckles. “So we began to see this instead as a mid-life opportunity to do things.” They started small. “When we first started,” says Mrs. Anschutz, “we tried to look at areas that were maybe not covered by some of the major organizations that were already in place, where maybe our smaller dollars could have an impact. One of the first things that we actually looked at, because of Phil’s father, was health care.”

“Mrs. Anschutz continues, “There were early commitments to health research. Also, we made commitments to people who were on the streets, the homeless, and shelters for abused women. There were commitments to church and faith-related organizations.” As the foundation grew, so did the spectrum of gifts. Today, the list of organizations receiving support from the Anschutzes runs to the hundreds.

“The Anschutzes credit their children for the expansion of the charitable interests. Now adults, all three of the children play leadership roles and have joined the board. “Our universe of gifts continues to grow and broaden, particularly as the children get older and are now active participants,” says Mr. Anschutz. Mrs. Anschutz adds, “They are bringing in more diverse interests than what we first started with, certainly.” One of the areas their children and their children’s spouses—who now have children of their own—are passionate about is education.”