Transfer of Wealth Study and the “Five to Thrive” Campaign
The Nebraska Community Foundation, NCF, updated its Transfer of Wealth Study in 2024. The NCF analysis indicates the potential wealth transfer for all of Nebraska to be some $100 billion that would be transferred from the older generation to the next in the coming 10 years. Nearly $1 trillion is projected to be transferred in 50 years.
The Fund Advisory Committee of the Perkins County Community Foundation Fund, PCCFF, invites community members to consider the local charitable potential as illustrated by the study. For Perkins County, the value of estate transfers is estimated at $368 million over 10 years. The Nebraska Community Foundation is encouraging Nebraskans to allocate 5% of their assets to charitable organizations in a “Five to Thrive” campaign. 5% of Perkins County wealth transfer would amount to some $18 million over the next 10 years. Details of the NCF challenge can be found at www.fivetothrivene.org.
The Advisory Committee of the local Fund is encouraging “planned giving” to obtain the 5% level suggested by NCF. Wills, trusts and other instruments are often used to plan future gifts. In addition, simpler tools are also available. For example, beneficiary designations related to IRA’s or life insurance are convenient methods for arranging future gifts and can be arranged with help from financial advisors.
NCF holds numerous planned gifts for the Perkins County Fund. The “Five to Thrive” effort is not only intended to support the Fund, but also other charitable entities in Perkins County. As one FAC member stated, “We are all in this together.” Michelle Ross, PCCFF treasurer, adds, “When we all leave five, Perkins County thrives.”
Sometimes assets of one generation may leave the community to heirs elsewhere. Jeff Yost, CEO of the NCF has stated, “Once wealth leaves the community, it is gone forever. Once wealth is endowed in our community, it is here forever.”
The Fund Advisory Committee of PCCFF plans to arrange discussions with other local foundations to promote the concept of the “Five to Thrive” campaign. The effort is projected to benefit the various organizations over time with planned giving. Contact Michelle Ross at 308-882-8469 for more information.
The author is Chair of the Fund Advisory Committee of the Perkins County Community Foundation Fund. PCCFF has a vision of “promoting vibrant communities and a high quality of life” for the County. Government and nonprofit entities can apply for grant funding from the Fund. The PCCFF is a nonprofit 501c3 affiliate of the Nebraska Community Foundation.