The Nebraska Community Foundation works with community, organizational and donor-advised affiliated funds serving 255 communities located in 78 counties. NCF and its affiliated funds have reinvested $243.2 million in Nebraska since 1994.
In 2011 the Nebraska Community Foundation completed an update to our original Transfer of Wealth Study, using the most recent data and an improved methodology. This update, with its deeper analysis and more accurate estimates, provides stunning insights into the true abundance Nebraska enjoys, and the critical need to act now.
Over the next 50 years, our state will experience the largest intergeneration transfer of wealth in its history. The World War II and the Baby Boom generations own more private wealth than at any time. More than $600 billion. This wealth may be held in real estate, securities, retirement accounts and other assets.
Some will go to taxes. Most will go to heirs. Due to outmigration, many of those heirs no longer live where the wealth was built, and may no longer feel connected to those places. Once intergenerational wealth leaves our communities – the opportunity for give-back becomes more and more unlikely.
If only a small portion of this wealth – just 5 percent – were given back through charitable gifts and endowed in community funds, we would have millions of dollars each year to invest in hometowns where young families can prosper. The Nebraska Community Foundation is helping people across the state achieve this vision.
Local leaders are developing strategies to retain at least five percent of the intergenerational wealth transfer by encouraging carefully planned gifts and building endowments. The five percent goal has become a powerful tool and a strong case statement for developing local investment of philanthropic resources to sustain rural communities.
In 51 Nebraska counties the peak years for wealth transfer are on the near horizon.
We must act now to encourage charitable investment in the future of our communities while the window of opportunity is open. We must teach, encourage and inspire our citizens to give back today, and include their community in their estate plans for tomorrow.
For more information visit the Transfer of Wealth News Room.
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Hebron’s native son, the late Glenn H. Korff, believed in the future of his hometown and the soundness of its Nebraska values. After earning his MBA and serving in the US Army Reserve for six years, Glenn worked for Goldman Sachs international investment bankers in New York from 1974 to 1992. Before his death in August 2013, he created a $1 million bequest to establish the Kenneth and Glenn Korff Endowment within the Hebron Community Foundation Fund.Read more →