The Crofton Community Foundation Fund Advisory Committee invites all community members to join them in “seizing the immense charitable potential of Knox County as illustrated by the 2021 Transfer of Wealth Study recently released by Nebraska Community Foundation (NCF).”
Study scenarios suggest that in Nebraska, more than $100 billion will transfer from older to younger generations during the next decade. Over the next 50 years, the figure swells to $950 billion. Scenarios are driven by conservative assumptions about the future, based on historical trends, census data, increasing agricultural land values, household income and other key indicators.
There is always an intergenerational transfer 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 may leave our Nebraska hometowns entirely.
The study’s release marks the beginning of NCF’s Five to Thrive campaign, which urges Nebraskans to consider leaving just 5% of their estate to their hometown. Doing so would amount to more than $5 billion in the next decade – and $47.5 billion over the next half-century.
In Knox County, $747 million could transfer in the next 10 years. If 5% of that were endowed, the local community would receive a $37 million boost.
“If endowed, think of the impact that kind of money could have on education, health, prosperity and quality of life,” said Nebraska Community Foundation President and CEO Jeff Yost. “Think of how it could contribute to a community’s ability to attract quality talent and young families. Harnessing just a small percentage of the transfer of wealth could be a game changer for the future of our hometowns.”
Prior Crofton Community Foundation Fund projects funded through local philanthropy include: Golden Age Senior Center, Main Street Treasures Electronic Marquee Sign, Leadership Knox County, Softball Field Concession Stand Project, Baseball Scoreboard Project, Basketball Court Bench Project, and numerous Crofton High School Scholarships.
Importantly, many Nebraska counties are approaching or are already experiencing their peak transfer years. The Transfer of Wealth Study illustrates the real urgency to act now to secure this tremendous community-building abundance.
“The transfer of wealth is a significant pathway to strengthening our community,” said Crofton Community Foundation Fund member Irma Arens. “The potential for substantial impact is right in front of us. When we all leave five, Crofton thrives.”
Learn more about the transfer of wealth and how anyone can get involved in this massive opportunity at www.fivetothrivene.org.