Harnessing Opportunities: Indiana's Transfer of Wealth and its Impact on Counties
Indiana Grantmakers Alliance's signature program delves into the significant intergenerational transfer of wealth in America, with focus on Indiana. The data reveals staggering wealth transfer estimations and underscores the importance of strategic grantmaking. Learn how counties can leverage this wealth for community development and nonprofit sustainability.
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A SIGNATURE PROGRAM OF INDIANA GRANTMAKERS ALLIANCE
County Transfer of Wealth
Transfer of Wealth America is in the midst of a remarkable time; an inter- generational transfer of wealth totaling $11.6 trillion The economic boom of the 1990s spurred an increase in household wealth The Greatest Generation was a generation of savers. They are now 70+ years old Two-out-of-three baby boomers should get something Research predicts $1.5 million for the wealthiest, and a median gift of $64,000
Indianas Transfer of Wealth 2005 Indiana Grantmakers Alliance commissioned the Center for Rural Entrepreneurship to study the Transfer of Wealth in Indiana 2005 Indiana current net worth - $309 billion 2010 Indiana current net worth - $298 billion Estimated $104 billion will be available to transfer between generations over the next 10 years in Indiana households
Indianas Transfer of Wealth The transfer of wealth estimates provide not only a good idea of the size of the potential transfer of wealth, but the ability to set donor development goals that can translate to endowment building and strategic grantmaking
What does the Transfer of Wealth mean for County? Transfer of wealth can bring a message of hope and opportunity to build our communities County s estimated net worth in 2010 $XXX BILLION County s estimated 10 year transfer of wealth $XXX MILLION
What does the Transfer of Wealth mean for County? If 5% was captured in endowments at the County Community Foundation $XXX MILLION A 5% payout would mean: $XXX,XXX AVAILABLE FOR GRANTS EVERY YEAR!
WHAT ARE THE STRATEGIC OPPORTUNTIES IN COUNTY?
Transfer of Wealth Build sustainability for local nonprofit organizations through endowment funds Build community funds for smaller parts of the county engage rural donors Assist donors in disposing of complex assets through their estates local business owners Hold community meetings discussing the transfer of wealth as hope for the future
Transfer of Wealth Nonprofit Leaders Assess your organization s readiness for establishing and growing endowment: 1. Does your organization have a profitable annual fund campaign? 2. Does your organization hold and manage a reserve fund to be used for a rainy day? 3. Does your organization receive annual fund contributions from individual donors who give year after year? Might these donors consider making an additional contribution of five percent of their previous gifts or consider leaving at least five percent of the residue of their estates for the good of your organization s future? If you answer yes to these questions, your organization may benefit from a permanent agency endowment fund at Community Foundation. Agency fund services include investment management and expert planned giving assistance to help ensure your organization s future.
Transfer of Wealth Rural Communities Do you have local leadership committed to building a future for your hometown? If so, your rural community may benefit from a permanent field of interest endowment fund at Community Foundation. Organized local leadership can affiliate with Community Foundation by establishing a permanent endowment fund where your neighbors commit to giving or leaving behind five percent for the good of your community.
Transfer of Wealth Individual Donors Think about the charitable issues that are important to you. Review the list of specific charitable organizations you gave to last year. And then: Make an additional contribution of five percent of the total amount of your charitable gifts from last year to the endowment of your favorite charity at Community Foundation. Talk to your professional advisor about including your community in your estate plans. Consider leaving at least five percent of the residue of your estate for the good of County. Establish a donor advised fund to organize your charitable giving or as an alternative to a private foundation, which can then be incorporated into your estate plans.
