Family Foundation Advisory

A family foundation can provide continuity, governance, and institutional discipline to a family’s philanthropic activities. It can also create a shared platform through which generations participate in a common purpose.

Establishing a foundation requires more than forming a legal entity. Families must consider purpose, jurisdiction, governance, funding, tax treatment, administration, grant-making, succession, and long-term operating capacity.

L’Heritage helps families assess whether a foundation is appropriate and coordinates the design, establishment, governance, and ongoing administration with qualified legal, tax, and philanthropic advisers.

Areas of focus

• Foundation purpose and mission
• Jurisdiction and legal structure
• Governance and board composition
• Endowment and funding policy
• Grant-making and operating procedures
• Generational participation and continuity

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What the advisory may include

• Foundation Feasibility Review — Assess whether a standalone foundation is appropriate compared with direct giving, donor-advised arrangements, trusts, or other philanthropic vehicles.
• Purpose and Mission Development — Define the foundation’s charitable objectives, intended beneficiaries, geographic reach, and long-term mandate.
• Jurisdiction and Structure Assessment — Coordinate legal and tax review of suitable foundation, trust, company, or charitable-entity structures.
• Governance Design — Establish board roles, family representation, independent participation, committees, reserved matters, and decision-making procedures.
• Endowment and Funding Framework — Determine how the foundation will be capitalised and how annual spending, reserves, and investment assets will be managed.
• Grant-Making Procedures — Develop application, due-diligence, approval, disbursement, monitoring, and renewal processes.
• Family Participation Policy — Define how family members may join the board, nominate projects, undertake site visits, or participate in programme oversight.
• Administration and Compliance Coordination — Coordinate filings, accounting, audits, governance records, reporting, banking, and professional service providers.

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