Giving Insights: Supporting the Next Generation of Philanthropists

For many people, their first ideas about service and what it means to give back start at the kitchen table.

“So much of what we think of as philanthropy is simply the sharing of values: people wanting to instill in their children, grandchildren, nieces, and nephews the importance of giving and caring about others,” says Kristin Carlson Vogen, associate vice president of philanthropic strategies and innovation at the Trust. “We often work with families to build on an established approach and help the upcoming generation chart their own course.”

Yet for some just getting started, philanthropy can seem intimidating. And that is where the Trust’s Young Leaders Fund (YLF) offers a valuable entry point for young professionals to start their giving journeys.

One of six affinity funds at the Trust, YLF makes grants to small, start-up nonprofits serving neighborhoods across Chicago. Over the past 30 years, the fund has awarded nearly $1.5 million in grants to more than 260 organizations. YLF members gain insights into grantmaking and hands-on experience that shape them into more effective volunteers and knowledgeable civic leaders.

“Oftentimes philanthropy is associated with financial resources and while that is a large and important part of the equation, there are other ways to get involved,” says co-chair Mateo Koster.

YLF members work closely with nonprofit leaders to guide them through the qualification process, learn about their work firsthand, and help them prepare for future grant opportunities.

“Our process is so much more personal than handing over a check,” notes co-chair Caroline Schneir.

Schneir credits her own family’s focus on the arts with shaping her perspective on philanthropy.

For former Co-Chair Tomás de’ Medici, being part of the Young Leaders Fund was a continuation of his family’s philanthropic legacy. His parents, Bruce de’ Medici and Rita Enriquez de’ Medici were founding members of YLF.  

“My family taught me that if you believe in something you have to practice it, or create it if it isn’t there,” Tomás says. “Philanthropy allows young people to actively shape the future rather than just reacting to the world as it is.”

Beyond participating in YLF, the Trust can serve as a key resource for young professionals to start developing their own giving strategy. Likewise, families who wish to make their philanthropy a collaborative endeavor can leverage the Trust’s expertise.  Family legacies—after all—are built and molded through shared experiences, stories, and time together.

To start a conversation about family philanthropy, contact Kristin Carlson Vogen. To join or support an affinity fund, contact Christine Munteanu.