The Longo’s Family Charitable Foundation, formed in 1998, has served as an important vehicle for the family’s philanthropic interests and values. Equally as important, it has helped the Longo family address many of the same multi-generational and cultural issues faced by other expanding business families. This includes how to ensure that the growing family branches, including those not directly active in the business, retain their close ties to one another, and that the original values of giving back to one’s community remain consistent as the business and families evolve.
In June, Burgundy Investment Counsellor Angela Bhutani led a live discussion and Q&A period with Rosanne Longo and two members of the Longo family’s third generation, Sabrina Favaro and Thomas Longo. Together they offered insight into how they maintain family unity, discussed the importance of strengthening culture and shared the ways philanthropic initiatives inspire important life lessons.
Highlights of the session include:
- 4:55: Purpose of the foundation and family legacy
- 5:58: Navigating challenges as the foundation evolves
- 7:32: Involving family members in strategic direction
- 11:48: Learnings and contributions from diverse family members
- 17:27: Q&A:
- Staffing considerations
- Evaluating priorities
- Measuring impact
- Requirements for success
- Funding partners
The transcript has been edited for clarity.
For more information on Burgundy’s philanthropy initiative, please contact us.
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