When family foundations are forced to move on from the founding generation, it is a time rife for fights over who will control the organization. The William Davidson Foundation, founded by William Davidson, a businessman and owner of the Detroit Pistons basketball team, is facing these growing pains.
A petition to split the $1 billion foundation into two was dismissed for lack of jurisdiction, but the court didn’t help with the underlying problems. The Foundation’s mostly related board members seem to be fighting over who will best maintain the founder’s philanthropic vision to help local charities and Jewish and Israeli causes, with Davidson’s widow and son battling his son-in-law.
Is your family foundation prepared to pass along the reigns to the next generation?