Danielle Durchslag, an effervescent 24-year-old who hopes to become a professional photographer, grew up in a family that has a motto of its own: "Nothing will ever be accomplished if all objections must first be overcome." Those are the words of her great-grandfather, Nathan Cummings, founder of Sara Lee.
When Cummings died in 1985, he left the bulk of his fortune to seed a foundation in his name. Six years ago, Durchslag inherited a seat on the board of that foundation, which has an endowment worth more than $415 million.
Durchslag is one of a growing number of young people who are inheriting a philanthropic tradition. With a $41 trillion wealth transfer expected as baby boomers begin to retire, families are increasingly choosing to make giving part of the package.
And many young philanthropists have their own ideas about what causes they wish to support, which may not be the same ones the foundation has traditionally favored.
[Excerpts of article written by Jessi Hempe in BusinessWeek]