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
For an alternate format, access the transcript via the “Download PDF” link at the top of this post. The transcript has been edited for clarity.
Angela Bhutani, CFA, CFP
Vice President, Investment Counsellor,
Burgundy Asset Management
Rosanne Longo
Chair,
Longo’s Family Charitable Foundation
Sabrina Favaro
Trustee at Large,
Longo’s Family Charitable Foundation
Thomas Longo
Trustee at Large,
Longo’s Family Charitable Foundation
For more information on Burgundy’s philanthropy initiative, please contact us.
This post is presented for illustrative and discussion purposes only. It is not intended to provide investment advice and does not consider unique objectives, constraints or financial needs. Under no circumstances does this post suggest that you should time the market in any way or make investment decisions based on the content. Select securities may be used as examples to illustrate Burgundy’s investment philosophy. Burgundy funds or portfolios may or may not hold such securities for the whole demonstrated period. Investors are advised that their investments are not guaranteed, their values change frequently and past performance may not be repeated. This post is not intended as an offer to invest in any investment strategy presented by Burgundy. The information contained in this post is the opinion of Burgundy Asset Management and/or its employees as of the date of the post and is subject to change without notice. Please refer to the Legal section of this website for additional information.
Third-party materials or entities that are referenced or discussed in this document are not necessarily endorsed by Burgundy.
This Journal post is not intended to offer investment, legal, accounting or tax advice; provide recommendations or offers of solicitation; serve recruitment purposes; and/or serve marketing purposes. Burgundy assumes no obligation to revise or update any information to reflect new events or circumstances, although content may be updated from time to time without notice.
