Transfer of Wealth Shows Opportunity For Philanthropists
The Nebraska Community Foundation found more than $100 billion in Nebraska will transfer from one generation to another in the next decade.
The foundation’s 2021 Nebraska Transfer of Wealth Study, released Monday, found that $950 billion will be transferred in the next 50 years.
There is always a transfer from generation to generation, as parents pass away and leave their estates to their children. But if the heirs no longer live where they grew up, those critical resources leave as well. Many Nebraska counties are approaching or are already in the midst of their peak transfer years. The study illustrates the real urgency to act now.
The 2021 study is the third in as many decades and will be a vital tool in inspiring greater Nebraskans to think about their communities in bigger terms, according to the foundation. Scenarios are driven by assumptions about the future, based on historical trends, census data, increasing agricultural land values, household income and other key indicators.
The Nebraska Community FOundation is also launching its Five to Thrive campaign, which urges Nebraskans to consider leaving 5% of their estate to their hometown. Giving just 5% to local charitable causes would amount to more than $5 billion in the next decade — and $47.5 billion over the next half-century.
An interactive map on NCF’s website, fivetothrivene.org, details potential transfer amounts by county and includes information on confirmed planned gifts, total endowed assets, community success stories and more.
“If just 5% of the transfer of wealth were endowed, think of the impact that kind of money could have on education, health, prosperity and quality of life,” Nebraska Community Foundation President and CEO Jeff Yost said. “Think of how it could contribute to a community’s ability to attract quality talent and young families. Harnessing just a small percentage could be a game changer for the future of our hometowns.”
For more information, visit nebraskahometown.org.
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