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The Strengthen Series: April 2024

April's Strengthen Series event centered around the Schaeffer** family's Grandparent-Grandchild philanthropy project* and the impact it has had on their family and the community.

They discuss how the project started, the organizations they have supported, and the process of applying for grants. The boys share their experiences and the lessons they have learned through their involvement.

The family emphasizes the importance of giving back and the benefits it has brought to their family ties. They also discuss the gratitude they feel towards "Nana and Papa" for starting the project and the ways they show their appreciation.

Overall, the conversation highlights the power of selflessness and the impact it can have on individuals and communities.

Major takeaways from the session:

Giving back and volunteering can strengthen family ties and create shared experiences.
Involving children in philanthropy from a young age can instill a sense of gratitude and selflessness.
Grant applications and poster presentations can help children develop public speaking and communication skills.
Receiving thank-you letters from organizations can help children understand the impact of their donations.
Philanthropy can bring families together and create a sense of purpose and connection.

Topics & Timestamps:

02:56 Starting the Philanthropy Project
05:23 Keeping Family Ties Connected
09:42 Involving the Grandchildren
11:57 Grant Applications and Poster Presentations
26:30 Family Decision-Making and Involvement
32:41 Expressing Gratitude and Appreciation
39:19 Surprises and Reflections
45:58 Future Plans and Conclusion

Related Content

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The family biz show podcast ep 85 with guest jay hughes jr*

Creating a Culture of Giving: The Spiritual Capital of a Family Bank 

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WATCH THE SESSION

Transcript

Michael Palumbos (00:03.502)
Well, welcome everybody to the Family Wealth and Legacy Strengthen series. For those of you that are just joining us for the first time, we started this because of a conversation that I had with a client and family friend about a year ago. And he was in hospice at the time.

And we got to spend some time together. And I asked him, you know, when you look at everything that you've been through in your life, what do you most regret? And the two things that he said to me stuck. And we've heard him before. One was he said that he worked too much. The other one that he said was that he didn't spend enough one -on -one time with his family. And...

And that conversation spurred me to think about the people that we serve. And we do a great job with the wealth management and with the estate planning and doing all the planning work. But if, you know, we asked our clients again and again, you know, what's most important to them? Most people would trade all of their wealth to have a healthy,

good relationship, wonderful, happy family, more than everything else. And since that was what was important, we wanted to start the Strengthen series just a once a month get together where we have some conversations about how do we strengthen the family itself? And what are some of the things that we can do and bring just some creative ideas to the table. Last month, we talked about social fitness.

This month we're talking about the Grandparent Grandchild Philanthropy Project and Chris and Jane and your whole entire family's here. This is so awesome. I just want to say thank you for taking the time and sharing this with other people. Boys, you know, this is being recorded now. So when we put it up on the website, you guys are all going to be famous. Make sure you get your, you know, autograph books ready because people are going to want to say, hey,

Michael Palumbos (02:27.022)
what's going on with those Schaeffer and Fritz boys, you know, down the road from now, maybe, maybe not, but we're still gonna have some fun today. I appreciate you guys all, everybody taking the time to talk about this. So Chris and Jane, I'm gonna start with the two of you. You know, give me a little bit of background about the Schaeffer family and why, when we introduced the grandparent, grandchild,

philanthropy project that kind of stuck for you guys. It struck a chord. Well, back in about 2019, when we were meeting with you, Michael, and doing a lot of our state planning, it just came to light how community active Chris and I work within our family, the amount of donations that we do, and the types of volunteer work that we do.

And we got talking about the type of volunteer work that our own individual families were doing, Mads and Kate and Liz and Brendan within their own community. And, you know, whatever, what other type of entrepreneurship vibes that they had and were thinking of. And we started thinking and talking about family banks. And then what about starting up our own philanthropy?

endeavors and you brought up the idea of starting our own foundation and you said hey there's this great organization the Rochester area community foundation why don't we talk to them and there's some great tax benefits too we can take some of your investments and move them over it would be win -win and we started discussing that and setting it up with the help of Kaylee.

organization. So we started that in 2019 in getting the ball rolling in testing the waters and doing our donations through that way. Nice. So then it was about 2020 that we decided to start bringing the family in more. And it was after reading the article by James Hugh,

Michael Palumbos (04:54.222)
about the reflections on the grandchild, grandparent philanthropy, you know, about the element of family governance and how it can help strengthen your family ties. Now, we have two children. We have Matt and Kate's family who's in Maryland with their two sons. We have Melissa and Brendan. We're out in Omaha, Nebraska with their two sons. And how do we keep...

those family ties connected while we're stretched across the continent, right? And we all have different interests and different things that we like to do. So we, it's like, not on top of mandate that we get together a minimum of twice a year, the whole family. We get together, I don't care what state, what continent or where we go, but we always get together.

So in 2020, on a Christmas trip, Chris and I introduced the idea of let's set up this song, or that we had set up this philanthropy fund, and that we were going to introduce it and allow each family the opportunity to annually make their own donations to organizations. So that's how we got started.

I appreciate that. Would you mind introducing the rest of the family? Sure. So we have Melissa and Brenton and Cameron and Beckett. Raise your hands there. And they live out there in the tornado alley of Omaha and they've been being hit with tornadoes the last few days.

Cameron just finished videotaping one and living through a couple at the airport. They've had some scary times recently. And then over across to the other coast, we have Matt Schaeffer with his two sons, Sidon and Sawyer. Raise your hand. And then we have Kate, their mother, who's traveling from

Michael Palumbos (07:19.15)
come on her way back from Baltimore or she's in Baltimore right now where she is traveling back from work. So hi Kate and there's Matt Sawyer and Sidon. Great. Thank you. So I want to ask Cameron and Sidon, let's start with Cameron. So when you guys go by Nana and Papa? Nana and Papa.

Nana and Papa. When Nana introduced this idea to you guys, what did that mean to you? What did that sound like to you? What did you hear when you were talking about this? And it just sounded good that we were going to be able to help people and that it's good that we're donating to causes that are in need. Nice. So Aiden, what were you thinking about when they were talking about this?

Well, I think probably at first I didn't think much of it, but I feel like over the years I've gotten to enjoy it a lot more and I like to help people in need and causes that need help. How old were you guys when this started? I was 19, so that would be...

Well, it was in 21. they were six. They were nine. Got it. So the the oldest were nine and then Sawyer and Beckett, you guys were six. Beckett was. Yeah. OK. What did you saw here? Do you want to, you know, you're six years old when you're hearing about this. Did you think anything? you know, did you wonder what was going on?

Not really. No, okay. I think those are great. I think that's really spot on answers. I appreciate it. So, so, yeah, here you have you have two six year olds. So the boys are all the same ages with only, you know, three, four months apart. But you right now we have two nine year olds and two 11 year olds in each family, right and all boys. So when we introduced them, if I may,

Michael Palumbos (09:42.318)
Beckett wanted to adopt an animal from the Omaha Zoo, right Beckett? So when you adopt an animal, what do you do? You adopt a dog, you adopt a cat, you usually bring them home with you. So he decided what animal he was going to adopt. So he decided the animal he was going to adopt needed to have the proper home in his home.

So he called his papa and he said, Papa, what did he want Papa to do? He said, Papa, Papa, you have to come out and help me. He goes, why, what do you need, bud? He goes, I'm going to adopt a shark. I need a shark tank.

Becca, that's awesome. I love that. So, you know, of course, you know, we're like, that's awesome. And you can't really laugh at a six year old, right? He's got all good intentions. You have to explain to him, you know, what he did, he was adopting wasn't really going to bring him home and live in his bathtub, but that it would be providing for his care.

at the zoo, right? So he kind of changed what he was going to adopt and how he was going to benefit the zoo once he found out the shark wasn't going to live in the bathtub at home. But, you know, they had a lot of great ideas. And one of the things that through the James Hughes article was, what is it, boys, you have to do?

When you fill out your grant application, what is part of the process you have to go through when you do your grant application?

Michael Palumbos (11:39.47)
I'm going to matter of fact, there you go. Boys, you want to talk about that a little bit? Who wants to talk about what the grant application looks like and what you have to do for it? How about is it exciting?

So is it like the thing like where like you fill out like who you want to donate to, like what they are and why? All right. Matter of fact, I'm going to share my screen a little bit and that way people can see it and then I'll go back in a second. So Jane and Chris created, you know, they call it the Celebrate Family Foundation and it goes through and talks about the background of their family.

what volunteering means in philanthropy and charity, and then going through the guidelines for family giving. And then the grandchildren's application form looks like this. So Cameron, do you wanna walk us through it?

Do you remember what your first, the charity was that you utilized the application for? I can't remember if it was, it was either the Civil Air Patrol or the commemorative Air Force. How did you choose that charity? So I really enjoy like airplanes and aviation.

and there used to be an airplane over by us that was part of the commemorative Air Force. So I did some research on that and found out that they were a charity. So I wanted to help them. Nice. So talk about this application a little bit for us. So first, in the iBlank, you say you put your name and then there's the amount of grant and then you write.

Michael Palumbos (13:39.918)
who it is for and why I wanted to support them was because well I love aviation and their goal is to help younger kids like experience like the history of aviation and it uses them to help restore their airplanes and I just thought that that was a very cool foundation. Nice.

And then you went in, did I understand this correctly? Was part of, you know, giving to that organization that you also had to do some volunteer work there? So I didn't volunteer there, but I volunteered at some other places in our community. Beautiful. Nicely done. I appreciate that. So Cameron, what else do you have to do for your grant application?

What's the second part you have to do for it? Then after that, we need to make a poster that normally sometimes that are like family reunion thing in New York that will show to everybody. And then what's the poster about? So like it's all about the organized.

the organization and what they do and why you want to help them and that stuff. And so then would you go ahead. So then you stand up in front of the family, right? About 30, 40 people and then you present your project.

Pretty darn cool. That's super sweet. I love that. Saiden, do you remember what your first charity that you did an application for was? No. Okay. How about your most recent one? Who did you do? This organization called Team Seas. What they do is basically they're dedicated to taking...

Michael Palumbos (15:52.654)
For every dollar that you donate, they take a pound of trash out of the ocean. That's very cool. How did you find them? So it's actually ran by a YouTuber whose name is MrBeast, right? And I thought that the concept was really cool, so I was like...

It sounded cool. Yeah. I love it. I think that's a great idea. But so you found it on your own and did the research on the charity and determined that that's where you wanted the money to go. Yeah. I love that. And so when you did, you know, what were some of the things that were on your poster when you made the presentation? probably things like why I was going to donate.

like how many pounds of trash they were going to take out, that kind of thing. That's great. And then you had to make the, you made, you also had to make a presentation in front of the family for that? Yeah. How do you, just out of curiosity, what is that like when you have to make that presentation to the family? it's very scary. Yeah. It's kind of stressful to stand up in front of everyone in your family. That's fair.

Is it easier today than when you started? I would say so, yes. Good. Cameron, you're shaking your head too. So you've been, you, you felt the same way? Yes. Yeah. Sawyer or, or, Beckett, do either one of you want to talk about that at all? What's it like standing up in front of the family? It's nerve wracking. Nerve wracking. What do you, you know, one of the cool things though is are you, we're still talking, right?

So you were out there in front of the family, but yet you're, you're okay. You survived talking in front of them, right? Yeah. Have you ever had to like talk to any of the charities? I went and helped one of the ones that I think. Yeah. And what did you talk to them about? Like why I picked that charity. I love it. What charity did you pick?

Michael Palumbos (18:14.766)
It's called Leveling the Playing Field and they donate equipment to people so they can play all the sports. What a great idea. How did you find them? Research. Yeah, so how did you research this? Well, first I didn't have an idea and I like sports. So I researched things that would help people that want to play sports.

Awesome. I love that you did. I love that you did that. So you did the research on your own. Then so did you have to fill out an application too or do you get because you're younger, you don't have to fill out the application? No, I need to fill it out. You fill it out too. So my goodness. Is that a lot of work for you?

Wow, it's not so bad, right? Nice. What is your... Go ahead. Nana makes them all hand write it out, right? And they all have to do their poster and then hand present. And then if they're able to volunteer for that organization is great. Sometimes...

The organizations that they donate to aren't in their local area. Where Sawyer donated to was three hours away in Baltimore. And they happened to be at a sporting, were you at a soccer tournament? And you were able to find it? Yes. Yes. So they made time on a weekend in Baltimore and made arrangements as a family.

to go there and spend an afternoon sorting equipment. Jane and Chris, or Matt, Melissa, Brendan, anybody want to field this one? What do you see is the difference in the boys from when they first started doing this stuff to how they handle it and what they do with it today?

Michael Palumbos (20:36.078)
So actually, I'll take this one a little bit. We've always had a very honest conversation with the boys about how fortunate we are and how very privileged they are and how they need to be, you know, very thankful that there's not people who are as fortunate as we are. Growing up,

It was always very easy to volunteer because mom was on the board of 90 ,000 different organizations and every Saturday you were just somewhere doing something anyways. Moving away and living in a bigger city. Sometimes it's harder to find those opportunities to really get involved just with the city being so big. So it's really not for lack of wanting to, but.

We hadn't had the opportunity. So having the foundation and your family is responsible now for doing this. It really made us have more of those conversations and look deeper for those opportunities. And for two years in a row now, instead of presents, Beckett has asked for donations or to make a donation. So two years ago,

at his birthday party, he asked for everybody to bring donations to the animal shelter. So we got cat toys and dog food and all kinds of monetary donations. Yeah, he got over $100 from his parties and we asked that, you know, no gifts be bought for him to just make the donations to the animal shelter.

And so we went in person to take those. And then just this year, he decided that instead of a lot of presents, even from his family, he wanted to make a donation. You want to tell them what you did this year?

Michael Palumbos (22:49.746)
So this year I need birthday boxes. Tell us about a birthday box. What's that? It's basically for the people.

Michael Palumbos (23:06.638)
The underprivileged who might not have the money to throw themselves a birthday party or have the extra to buy a birthday cake. So it's a box of cake mix, a bottle of Sprite, and frosting. And then we put in... And then there's napkins, and like, there's candles, and a banner.

What a great idea. Where did you come up with that idea? She came up with it. Little help from mom. You gotta love that. I have to say, how old are you? Nine. I don't think, I know very many nine year olds that would have said, hey, I want to give my birthday presents to somebody else or I want to raise money for charity.

I want to say hats off to you. Really nice. You should be really proud of yourself. That's very cool. What, let's talk about from Nana and Papa's perspective, what do you see as some of the benefits that have happened through the years for the family, for the boys themselves, and for you?

Well, what I see is because we're living in different states is it's one thing that keeps us all tied together, this sense of giving, this sense of volunteering. We're weaving ourselves through the fabrics of our communities and we're all, we all have shared experiences. And the one thing I'm seeing and I would.

I had a concern about, because I wanted to make sure that the boys weren't quote unquote getting lazy or just picking the same organization every year. What I found is that even if they picked the same organization two years in a row, it's because they were getting very tied.

Michael Palumbos (25:31.63)
to that organization. Beckett is very tied to this foreign food bank and he continually is doing different projects for them over and above the grants that we do to them. And then Nana and Papa will also do additional grants or up the amounts of their grants. You know, even though they're only doing small grants, all the grants is

can do $250 grants. That's not a lot, but it's a stepping stone for them. So what we do, we allow each family $5 ,000 a year to divvy up within their family to give away. So whether Kate has a favorite organization or Matt has an organization or the kids do.

They as a family come together and discuss how they think the money should go within their community, which is awesome. And then we come together as a family once or twice a year. And at that one annual meeting, we go over everybody's grants and we discuss them and we make sure that everybody reads them, they're presented and everybody agrees.

So it's not like they just all come in and Nana and Papa just go over them and we send them all into Kaylee. We all go through them, we discuss them, and we quote unquote approve them. And then we get them submitted type thing. So it's so that each family knows what we're doing. And matter of fact, we'll diverge this a little bit this weekend.

Chris and I were at a Rotary Conference and we saw another opportunity that we thought was worthwhile for our plan to be fun to be part of. And it was called Linking Hands for Learning. And it was developed out of Honey Oye Falls and they build one room schoolhouses in third world countries.

Michael Palumbos (27:55.182)
And today we're looking to raise some money at the conference. And Chris and I were so taken back by what they were doing that we said that we would match dollar per dollar up to 5 ,000, which is just a small donation, but just hoping that maybe they could raise 10 ,000 at the event. They weren't the prime.

reason for the conference. They were just a side event, but I thought maybe we can give them a little boost. So between our boost there, they were able to raise 14 ,000, which was nice. So I turned around and I was telling the family about it. And there's also the opportunity to travel once a year to help with the build. And the family jumped right on that and saying,

Hey, who would like to go do a service building in January? And I'm like, you know, that's awesome. Because they take all ages, you know, so the boys could go. And Matt's like, I'll go, you know, and a couple of the older boys says, I want to go too. So I think it's very important to go full circle, not just give the money, but if you can be part of something as well, you know, that's why we encourage.

volunteers. Volunteering is also part of our grant application. If you can volunteer for the organization you're donating to, that's great. But part of the grant application is the family must volunteer a minimum of four hours a year, which is easy. And also they either ring the bell for Salvation Army.

participate in conservation days, or they do their 4 -H projects or their Boy Scout projects, or do their sporting organizations. So they easily knock off their four hours in a weekend, almost every weekend. But there's always opportunities out there someplace. Like you said, what do Chris and I get out of it? We get out that we're passing down generational.

Michael Palumbos (30:16.686)
With our parents, Vernon Barb started, along with your father Marty, who Marty, it's so nice to see you on here too. We miss seeing you. And Marty worked with our parents through his planning. And he knows how involved our parents were in our community and stuff. They passed that heritage on to Chris and I and my brothers, Vernon and Craig. And we're passing it on to our family.

We also talked about the posters that the kids have to do for grants. Well, there's another aspect of that that we have passed on to not just to our kids, but to Vern's, well, not as much Vern's kids, because they're grown up, but to the other nieces and nephews. We have, once a year we come together as the Sessler family, and we have them all do a poster about

what they did during the year. So it's not just about what did the adults do or what did the businesses do. It's important that we recognize what did our kids do. So each of the kids also do a poster about what did I do last year so that they can look back on their experiences and remember all the fun things that they did, you know, all the different.

sports they played on, or maybe the trips, or maybe something not as happy happened, but they can recap their year too, and remember all the good things. And they also stand up in front of the entire family and they present. So even the littlest, down to three, four years, stand up there and present their posters, which is great for...

standing in front doing public presentations at a young age. So they all do that, which is great. And they have a sense of pride, right? So they are proud to stand in front of their family and show what they accomplished, what they did, and that they too are important and they're a part of the family. And I think that's very important. I think that's amazing. I really love that. Really love that.

Michael Palumbos (32:41.998)
would would you guys boys or anybody family members? Would you be open if anybody had a question? Would you would you take questions guys?

Yeah. If we know the answer. Does anybody have any questions for either the boys or the family around the projects that they've been doing?

Michael Palumbos (33:18.606)
You've talked about charities and organizations you've helped in the past. Is there any ones that you're looking to help out in the future?

Michael Palumbos (33:43.63)
And if not, that's okay. I'm sure at some point you'll come up with some ideas, but it's been really cool to hear about the experiences you've had because of this and it's been excellent to listen. So I encourage you to keep doing what you're doing. You're doing a lot of good and I'm sure you'll do a lot more good in your lives. What would you boys say to somebody else who was thinking about doing this or their grandparents were thinking about it? What would you tell them?

it's a great experience. You should definitely try it. Yeah, just all my words. Perfect. How old do you, so you guys, the youngest of you, Beckett and Sawyer, you guys were six when this started. Do you think that that was, was that too young or did you, you know, did you get something out of it when you started? Are you glad you started when you were six? Yeah.

I think six is a great age to start. Great. And if you were, and Jane and Chris, Matt and Melissa, a lot of families, they don't have, the youngs are 19 years old or 23 years old. Can you see where the benefits would do the same thing in terms of, you know,

bringing the family together and bringing, having a platform of communication, especially I think, when you've got that distance, I don't think it makes a difference regardless of the age. No, I absolutely not. You're never too young to learn how to give back and to volunteer and to be a productive part of your society. Like Melissa said, she grew up being...

part of her community, but when she moved away, she had a hard time reconnecting and finding out. So in her late 30s, early 40s, when we introduced this, it kind of forced her to get back out there and to be back into the community.

Michael Palumbos (36:06.158)
She was busy raising a family, but now it's like, well, now we need to get this and get going. So I don't think there's, you're ever too young to be part of the community and find a way to get that.

Melissa, have you found some charities to get involved with or Brendan that the two of you have kind of grasped on to or enjoyed being a part of? Yeah, we will give back. We used to have seasons tickets to our UNO hockey team. So we've donated to them for scholarship funds for the athletes over the summer.

We've gotten involved with a baseball league here in town called the Corn Belt League. So we are a host family for them, for a player over the summer. Been involved with Boy Scouts. I was a den leader for a year. Brendan has been a hockey coach before kids and with kids for various teams.

Brendan has gotten involved with aviation STEM activities and organizations done at the airport to really bring the aviation STEM to the youth and encourage that. There's been a food bank that has built a location closer to us. That's where we did our birthday boxes, but we've adopted families from

Christmas through there. And we did our birthday boxes and we did a grant foundation through there. I've now been invited to be on their board, which I'm not sure this is the right time, but that's an opportunity that probably wouldn't have been open to me before getting out there to do this.

Michael Palumbos (38:20.526)
and right now with, the tornadoes that came through have just devastated a lot of communities that just mile and a half north of us, an EF3 tornado came out and there's entire neighborhoods that are just flattened. So right now there's a lot of relief efforts and opportunities that we now have a way to help and.

and give back there too. So we've been able to find a lot of different organizations, Brendan and I at our level and not just the boys, but usually as a family, we get all involved. Nice. Matt or Brendan, when this thing started three years ago, if you have to look back and say, what surprised you the most?

through this process of watching the boys over the last three years. Brendan, do you mind, from your perspective, anything surprise you'd stand out? I think I would kind of mirror what Melissa was saying earlier with, Becca, we didn't ask him to, we didn't feed the idea at all for his redirection of his birthday. And I...

I think this is obviously probably a pretty big portion of what even just planted that seed of that type of thinking for him. Right. Where it wasn't a, Hey, you know, do you really need any more presence? Should we do something like this instead? It was, Hey, you know what? I don't need something and I'd rather do this and do this for somebody else versus myself. So I think it's definitely helped bring awareness to, you know, the power of selflessness.

Thanks. I'd have to agree with all that and really seeing what the kids are interested in and what they gravitate to. The four different boys, it's four different, totally different ways of the different organizations that they support, whether it's environmental or aviation or sports or the food banks. I think it's just seeing kind of where they gravitate to and you know,

Michael Palumbos (40:42.798)
they really appreciate. You know, at the beginning, you're like, we got to fill out a form. We got to handwrite a form. But now that that, you know, wave has passed, it's not much of a lift to ask them to do this. And they're always looking forward to the next research project.

Michael Palumbos (41:05.874)
Go ahead, Murray. Yeah, I don't know whether you want me to join in, but I would love to comment. You know, Dick, it's great to see you and Jane and Chris. Wow, it's wonderful. And, you know, Dick, you and I are separated by a few years and our kids are full grown adults. One of them is running this whole thing and our grandkids are by and large adults. And there's one of them, Steven, sitting right there.

So, you know, it's, we didn't do this, but, you know, I think I was always involved in community activities one way or another, and I'm lots of boards. And Melissa, you had said, I don't know whether now's the time for being on a board. Go on the board. You may not. I thought the same thing. I was like, man, you didn't even say that to me. You may not feel ready. Go ahead. Nobody who comes on the board the first time.

knows whether they're ready, but you start early. Ask your mom. She's been on board since she was younger than you. And you get experience by just doing that stuff and going in there. And you know, you'll be amazed at the number of great people that populate boards all over every community. It's a great way to connect. So I just wanted to say hi, Dick. Nice time. I haven't seen you in a long, long time. And Steven, I hear you and Michael spend some time together. That's very exciting.

And I don't know whether I see Vern and I saw LaVern, but he disappeared. And I see Nick. So Nick and I don't know whether that's son Vern or dad Vern, but it's nice to touch base with you guys again. And Michael invites me to all these things and I only go to some. And the one I went to, I wanted to go to was the one with you guys here. So, so nice to see the work you're doing, Jane. This is just great. Thank you, Marty.

And I just want to say happy birthday to my brother, Vern. So today's his birthday and he's spending a quality hour with all of us. Isn't that nice? Of course he's on mute so we can't ask, I can't say thank you or anything. All right, Vern, he's also somewhere else not even listening to us. But Vern, if you're there. Happy birthday. We took him to dinner last night. and he's off on mute.

Michael Palumbos (43:32.558)
Come on, man. Good to see you, boy. Happy birthday. Thanks. I've got two other questions here. One from Kaylee asking, boys, how do you express your gratitude to Nana and Papa about starting this project? What are some of the ways that you show them appreciation and gratitude for it?

Michael Palumbos (44:06.83)
That's a tough one, huh? Right. That's all right. All good. Do you appreciate the fact that they put this together? Yes. On a scale of one to 10 with one being, my goodness, I don't want to do this and 10 being, I can't wait for next year to do it again. Where would you put this? Who would give it a 10?

There you go. What would you say? Love it, love it, love it. One thing, Michael, the kids aren't saying it, but for Kaylee, one of the ways I think that they show the gratitude is the kids are enthusiastic. A lot of times in the car we'll have the conversation. All right, so.

what organizations are we gonna, we gotta think about what organizations and what are you gonna do this year and who do you think that we should do as a family? And a lot of times it's the kids who are initiating these car ride discussions or I think I might wanna work with kids this year or I think I wanna work with animals this year or I think I want to give more to this organization this year. It's something that they've really,

taken on and they are leading a lot of the discussions. Great. That's beautiful. Thank you so much for sharing and letting me be included tonight. And I would welcome seeing some of your posters because they sound so cool. So Michael, if you have any pictures you can share, I welcome seeing those. yeah. Yeah. Jenny, if you could snap a couple of pictures for us, that'd be great. We'll get it all. Yes, I will.

All right. It wanted to add something. Beautiful. I think Beck wanted to add something quick. go ahead. There's one other answer. sorry, Becca. I'm just thankful that they do it. And they're giving us that much money to donate. Nice.

Michael Palumbos (46:27.95)
Thank you, Beckett. There's the one other aspect of this is when they put in for the grant, we send the application to the grant receivers and ask them to personally send a thank you letter to the kids, not to the moms and dads or not to the foundation, but to the kids. And I think that helps them realize the impact of that.

their small donation makes on each organization they give to.

Thank you for sharing that. That is, I think that is really super important. Super helpful.

Well, Cameron, remember when you came to the Civil Air Patrol? Mm -hmm. What happened? We saw them at one of the STEMAHOT things, and then they gave me a full tour of what they used it for and all that, and they just thanked me a lot. They invited you to join early. -huh, and they also invited me to join early. Nice. That's very cool. That's very cool.

Boys, do any of you, is there anything else that you want to say that I haven't asked you or that I should have asked you? I have a question for Nana. So like, do you actually have the posters in the background? Or is that just like one of the Zoom background thingies? No, I have four of the posters in the background. I have a side view.

Michael Palumbos (48:10.766)
So you're back to the camera and poster. So you're able to like show them that or what do you need to do it for pictures? yeah. Can you bring the camera over Jane?

You know, yeah, you'll bring the poster over to it. There you go. Better yet. Yeah. Leave the camera where it is. Bring the camp. Bring the posters over.

So this is one that Cameron did, right? So this one was for... Memorative Air Force. Memorative Air Force. And so they do the missions and then they do the pictures.

Very nice, nice job. This is Beckett Food Bank. This is Beckett Food Bank.

Michael Palumbos (49:04.558)
Nice job. These are the ones I have to provide. And then these are pictures of like what they did. Like these are what I did during my year. I love that. Yeah. So we have sample control. That's what I did this year.

that's a great idea. They take pictures all through the year and then put them in a poster of what they did this year. Yeah. Yeah. So that they can remember what they did. Right. And it helps them to remember not only how fortunate they are, but they're good times, bad times, and to show everybody and to also take the opportunity.

they have the spotlight put on them, right? During our special family weekend, we carve out that hour or so for them. Love that. I think it's, you know, when you think about it, the holiday times are when families are getting together, oftentimes the adults are all chattering and whatnot, and the kids are running around, you know, and this is a nice way, like you said, to give them the spotlight.

and let them have some family time in front of everybody. I love that idea. That's really good. Yes, it is. It's like, you know, it's always packed tickets like, we got to get our posters done. It's like, come on, let's get them done. And we have printers here and it's like, wait, I want that picture. No, you've got that picture. And it's like, hurry up, get your poster done. I love it. Yeah.

I had one other question that I just thought of, boys. Does any of the work that you've ever done for the charity, when you're doing that, have you ever had to do anything like that when you were at school? So it made those school work easier because of, you know, the work that Nana and Papa had you doing?

Michael Palumbos (51:22.126)
Not as of yet, okay. It's kind of making it easier to like stand up and talk and present to the class. Okay, nice. Thank you so much. Appreciate that, Cameron. And for a, say like call on you to answer a question, you might not be as scared. That's a really good thing. So because you're, because Nana and Papa made you stand up in front of the whole family at times,

It's not so hard in a small classroom of 20 kids, huh? I love that. Thank you. Alright, if anybody else has any questions, I think I got everything in the chat. Everybody got lots of thank yous and. I think the only I think we covered just about everything there. We can be done in less than. An hour and that's get everybody back to their evening.

Jane, Chris, thank you so much. Thank you, thank you. Brendan, Melissa, Matt and Kate, appreciate it. And Sidon Sawyer, Cameron and Beckett, you guys were the stars of the show today. We really couldn't have done this without you guys bringing this to us and sharing with us everything that you've been doing the last couple of years. Really, really appreciate you guys. You got a lot to be proud of.

Keep up the good work and will you do me a favor? Maybe three years from now we'll do this again and see what's different in three years. Would that be cool? Yeah. One more thing. Sure. Thank you to Nara and Papa for doing it because it's opened my mind up to helping a lot of organizations. You're welcome. Thank you, thank you.

All right, everybody. Thank you for joining us. And just so everybody knows that's on the call next month, the Cessler Schaeffer family will know the name, but I'm having Jeff Savlov is going to join us. And Jeff is a family wealth, family business coach. And he's just coming on. Jeff has done some really incredible things with raising.

Michael Palumbos (53:49.038)
young children in families of wealth. Jeff has also done some great work in terms of some of the psychological impacts that money has on people. And so we're just going to do a ask the expert kind of a thing. And so what we'll be asking people to do is to email us their questions because some people might not want to do it.

in front of everybody. So we're going to take the emails and then we're just going to kind of go through and discuss together. Jeff and I've known each other for a bunch of years now through what's an organization called the Purposeful Planning Institute, which is all about having purpose behind the wealth more than just utilizing it as the assets. So Jeff is a wealth of information. And like I said,

Nationally right now, he's being looked at as one of the experts in the field of raising kids in families of wealth. So hopefully you'll join us next month. Thanks everybody.

Thank you Mike. Thank you. Thank you. Have a great night. Bye. Night. Night. Thanks for having us. You guys are awesome. I really appreciate it.

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*The Grandparent-Grandchild Philanthropy Project is not affiliated with Lincoln Financial Advisors Corp.

**not affiliated with Lincoln Financial Advisors Corp.

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Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Family Wealth & Legacy, LLC is not an affiliate of Lincoln Financial Advisors Corp. Lincoln Financial Advisors Corp. and its representatives do not provide legal or tax advice. You may want to consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances.