How Can NextGen Inherited Wealth Redefine Traditional Notions of Success and Security?
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Part II: Unpacking the Impact—Analysis of Grand Street’s Transformative Approach
The journey of becoming a philanthropist isn’t just about learning how to allocate resources; it’s about understanding who you are and what drives your decisions. The “Twenty Years Later” report reveals how Grand Street achieved this by fostering a unique environment where participants could navigate their identity, develop their values, and learn alongside peers.
The Philanthropic Identity Equation
At the heart of Grand Street’s success is what 21/64 calls the Philanthropic Identity Equation. Participants are encouraged to ask themselves:
What am I inheriting? Reflecting on family values, traditions, and legacies.
Who am I? Clarifying personal values and motivations.
What do I want to do? Defining philanthropic goals and strategies.
This structured process helps participants align their inherited responsibilities with their own identities, providing a moral compass to guide decision-making.
The Role of Peer Networks
Grand Street cohorts were intentionally small and rooted in shared experiences, creating safe spaces for vulnerable conversations. Participants discussed the weight of family expectations, their relationship to wealth, and the complexity of balancing personal ambitions with collective responsibility. This peer support became a critical source of empowerment.
Empowerment Through Action
For many, Grand Street marked the first time their ideas and perspectives were truly heard. Participants gained confidence in expressing their philanthropic voice, which translated into real-world action. As one alum noted, “Finding your philanthropic voice isn’t just helpful—it’s transformative.” The result? Participants moved from passive roles in family philanthropy to becoming active contributors and leaders.
Through its focus on identity formation and peer collaboration, Grand Street created a ripple effect of positive change. Its alumni didn’t just learn how to give—they learned how to lead.
Read more in our next blog post as we offer our own insights into Grand Street’s study.
