In 2007, the inaugural group began meeting to address the question, ‘How can we engage advisors so they can engage their clients?’ It’s a joint venture with the Jewish Federation, so PAL picks up on and expands existing work. The idea is to create a group of professional advisors—legal, accounting, financial—who work with wealthy families who need, among other services, advice on charitable planning.”
PAL had five sessions, each at a different charitable organization. “We talked about how to bring up the subject of charitable giving and how to fulfill that work. It was educational and inspirational. These advisors already know the nuts and bolts of charitable planning, so this was more about how to engage our clients. It was also about how to work as a team with other advisors: you can’t do charitable planning without knowing its impact on tax planning, estate planning, etc.”
“One of the reasons I’m excited about PAL is that it promotes something I know is important yet something that doesn’t happen often enough: which is having all advisors working together for the benefit of their mutual clients. This is important for the entire profession, from the accomplished to the newcomers. And I have really enjoyed seeing how committed some of the top advisors are to the work of The Community Foundation. I was inspired by their pro bono work and by seeing how involved they are in encouraging their clients and their families in philanthropic giving.”
“Being involved with PAL has really expanded my network of highly accomplished advisors. It’s very educational for all of us to see how others in the group work with clients. It gives us inspiration and new ideas that we can incorporate into our own practices to help our clients with charitable giving.”
The Community Foundation is also important to Friedman’s family. “It helps us realize how blessed we are and helps us give back. I work with exceptionally wealthy families and we’re not in that league, but we can still have a donor-advised fund. Being able to name that fund after my hardworking immigrant grandparents lets us celebrate family history and think about what we stand for. And The Community Foundation offers programs like Planet Philanthropy that teach children how to be involved, how to vet charities, how rewarding it is to give. In fact, for my Christmas gift every year, The Community Foundation gives my kids a list of charities that helps them narrow down choices to match their interests so they can make an anonymous gift from our family fund to a charity they choose. That’s an incredible resource. The Community Foundation is so important to who my wife and I want to be as parents, as people.”
“Because The Community Foundation does so much and knows how to use funds efficiently, it connects me to the community as a whole. It connects me to a tremendous and unique philanthropic resource that educates people and facilitates giving. Through PAL, I’m in touch with other professionals of like mind. The members of my PAL class are keeping the momentum going. We’re planning bimonthly breakfasts for graduates and current members of PAL. That’s how strongly we feel the connections of this program. So, for my family and for my clients, The Community Foundation is a steppingstone for greater involvement in the community.”