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The urgency and optimism of donors wanting their capital to do more have propelled venture philanthropy into mainstream conversations among individuals, families, and foundations seeking not only to give, but to drive meaningful, measurable change. As the broader impact investing market surpasses $1 trillion globally, more investors are treating philanthropy with the same level of strategic focus and performance expectations that guide their financial portfolios.

This year brings unique opportunities and challenges following the passage of the One Big Beautiful Bill Act (OBBBA), which reshaped key provisions affecting estate planning, charitable giving, and income tax threshold. Signed into law in 2025, the OBBBA permanently extends key provisions of the Tax Cuts and Jobs Act of 2017 and introduces new measures aimed at easing the fiscal burden on individuals and estates. These changes also include adjustments to funding for certain social programs and green energy initiatives.

Nonprofit and foundation boards have a fiduciary duty to monitor investments and take action, when necessary, to protect the financial viability of the organization. Having, abiding by, and regularly evaluating the Investment Policy Statement (IPS) is considered a best practice and is integral to the strategic management of assets. Essentially, an IPS is a roadmap for investing the nonprofit's financial assets in stocks, bonds, ETFs, mutual funds, or other financial investments.

For many families, the holidays provide a natural opportunity to reflect on how philanthropy fits into their shared story. Conversations often turn toward legacy, impact, gratitude, and how giving can be more intentional and connected across generations. Whether your family has an established foundation or is still exploring how to give together, there are five best practices for meaningful family engagement in philanthropy that can help create a more inclusive, sustainable, and fulfilling approach.

Introduces why and how systems thinking can reshape impact investing strategy and practice. It outlines six key shifts—ranging from valuing broader perspectives and reimagining capital deployment to enhancing measurement for systematic impact—and offers practical strategies and real-world examples from organizations already applying these approaches.

This Playbook offers a flexible and practical set of tools to help investors and their advisors apply systems thinking to impact investing strategy, implementation, and measurement. Building on the Primer, it presents a curated collection of tools—diagnostics, worksheets, and planning materials—that can be used independently or in combination.

For the family foundations and investors interested in exploring the option of program-related investments (PRI), this interview with Brian Lucareli, Michael Calabrese, and Emmaline Jurgena at Foley & Lardner provides an overview on the investment option that allows a private foundation to invest for charitable purposes rather than making a typical charitable grant. They also discuss the PRI’s purpose for charitable organizations, the necessary IRS documentation, and how PRI compares to traditional investments.

Nonprofits are facing increasing budget and personnel uncertainty due to both a decline in donations and threats of cuts to government funding. As a result, volunteers will become even more important in helping nonprofits fulfill their missions. However, even the most well-intentioned and qualified volunteers can expose organizations and philanthropic families to legal, financial, and reputational risks—especially if the volunteers are placed in unsuitable roles or lack proper screening, training, and supervision.