For the Beem-Snapp Family, Charitable Giving is a Family Affair
For long-time Independence residents Betty and Terry Snapp, charitable giving is a family affair. The pair have been long-time supporters of Truman Heartland and have been involved in philanthropic giving on their own for a long time. Recently however, the Snapps decided to fulfill a long-time dream of theirs and start a family foundation with Truman Heartland using a donor-advised fund.
“We were already Heartland Legacy Society members and had included Truman Heartland in our estate plan years ago. But as we got to talking more about it we thought it would be really neat to establish a current donor-advised fund so we could watch the impact and understand the value it gave to other people.”
Betty and Terry decided to use their new family fund as a way to pass the spirit of giving onto their children and grandchildren. Once they had decided on opening a donor-advised fund through Truman Heartland, the Snapps sat their family down at dinner to explain how it would work and how everyone would be involved. Even the youngest of their grandchildren was expected to put forth the effort and research to do his part in deciding where the yearly funds would go.
“We explained how we wanted everyone to have an equal vote and they were excited to be a part of the big decision making. They all took it very seriously. We had little committee meetings and all of the grandchildren were made aware they were expected to participate.”
Their committee meetings became their highlight of the holiday season. Terry and Betty Snapp explained that before any of the grandchildren were allowed to open their own presents, the family would have to decide on how their family funds would be spent for the year.
“It was a great way to show them that before you can receive, you must think to give to others. They grasped the concepts and motivations and the ideas behind it right away. They were fully engaged in the process and it became something we bonded over as a family. We look forward to the meetings and hearing what the grandkids come up with for their portion each year.”
Terry explained that once the family decision was made, the process of allocating the funds through Truman Heartland was easy.
“It’s a very easy and efficient way to facilitate philanthropy. The Foundation made it very easy, so it was a no-brainer for us. It was also a longtime dream we had to set up a family fund through Truman Heartland. Using the Foundation was a natural fulfillment of a long-held dream the pair of us have had.”
The Snapps are grateful for the added value their family fund has had on their family experience. They believe that it has helped them grow closer as a group and enriched the quality time they spend together beyond just family bonding.
“The time we've spent together as a family has been wonderful, we have treasured it enormously. But there's something about giving as a family that deepens that bond even more. It adds to and enriches the family experience in ways you couldn't imagine.”
Author: Lauren Pope