The Cycle of The Gift
By Jay Bennett, Founder and Chairman, NCF Twin Cities
July, 2026 / True Riches
I have long had a bit of a habit of reading books on Generosity and then sending excerpts from the book to friends who did not ask for them.
“The Cycle of the Gift” is one such book. Authored by James E. Hughes Jr., Susan E. Massenzio, and Keith Whitaker, this book offers an outstanding view of generational wealth and how it can be a blessing or a curse. My favorite focal point in the book is what the authors call “The Spirit of the Gift.”
The Spirit of the Gift, according to the authors, combines the giver’s intentions with the gift’s own qualities. A gift with spirit causes both the giver and the recipient to grow and to feel free. It then spurs the recipients to give in turn; perpetuating the cycle of the gift. A gift without spirit is a transfer, they suggest.
Closely connected to the idea of a gift having a spirit attached to it are the contrasting words “subsidy” and “enhancement”. A subsidy adds quantitatively but not qualitatively to a life. It gives you more of what you have but may siphon off your energy and your aspirations.
An enhancement, they say, promotes growth. Continued subsidies cement entitlement. Enhancements lay the ground for true freedom.
Families flourish when they help each generation live their lives on their own and together as flourishing individuals. Giving is at the core of flourishing.
Family giving extends far beyond money or stocks or bonds or other material things. It involves time, care, advice and love as well as freedom and room to grow.
All of these thoughts are from “The Cycle of the Gift” which I certainly recommend beyond these excerpts.