NCompass Live: New Opportunities to Retain Wealth in Nebraska Communities: Transfer of Wealth Study

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In 2002, the Nebraska Community Foundation published the first statewide, county-by-county Transfer of Wealth study in the nation. Now, that pioneering study has been refreshed with 2010 Census data and updated methodology. According to the new study, about $230 billion will pass from one generation to the next in rural Nebraska over the next 50 years. Retaining even a small portion of that wealth for philanthropic purposes close to home is an historic opportunity for our state and for people who care deeply about the places they call home. Jeff Yost, President and CEO of the Nebraska Community Foundation, will address the new study and the massive opportunity it presents for building strong communities across Nebraska.
NCompass Live - January 4, 2012.

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  • The most important data for NCF’s mission is this map that shows the timing of wealth transfer. Those of you who have worked with our first study graphs and maps will see significant difference. When we used to talk about 26 counties peaking on or before 2015…we now see that 51 counties are peaking before 2020. It is pretty obvious to see that the TOW is accelerated in places that have lost population.
  • NCompass Live: New Opportunities to Retain Wealth in Nebraska Communities: Transfer of Wealth Study

    1. 1. January 2012 New Opportunities to Retain Wealth in Nebraska Communities: 2011 Transfer of Wealth Study www.nebcommfound.org
    2. 2. Outline for Today’s Presentation <ul><li>About NCF & NCF Affiliated Funds </li></ul><ul><li>Transfer of Wealth Opportunity </li></ul><ul><li>Library Success Stories & Opportunities for Funding </li></ul>
    3. 3. NCF Philosophy <ul><li>Local control; local responsibility </li></ul><ul><li>Empower local leaders </li></ul><ul><li>Build endowments to support core mission </li></ul><ul><li>Add value to local efforts </li></ul><ul><li>Convene & build partnerships </li></ul><ul><li>Belief in power of Hometown </li></ul>
    4. 5. NCF Summary – July 1, 2011 <ul><li>212 affiliated funds serve 230 communities </li></ul><ul><li>1,800 Affiliated Fund Leaders </li></ul><ul><li>Total Assets = $70 million </li></ul><ul><li>203 planned gifts totaling $41 million </li></ul><ul><li>36,222 contributions in last 5 years </li></ul><ul><li>$81 million reinvested in Nebraska in last 5 years </li></ul>
    5. 6. Building Assets for Vibrant Communities
    6. 7. 2011 Transfer of Wealth Study Resources <ul><li>www.nebcommfound.org/ </li></ul><ul><li>Summary report: tow_news_room/ </li></ul><ul><li>County-level analysis: programs-research/ transfer-of-wealth/ </li></ul>
    7. 8. 2011 Transfer of Wealth Study <ul><li>New Census data </li></ul><ul><li>Growth in ag economy </li></ul><ul><li>Impacts of the recession </li></ul><ul><li>Improved methodology </li></ul>
    8. 9. 2011 Transfer of Wealth Study <ul><ul><li>$603 billion will transfer in Nebraska in the next 50 years </li></ul></ul><ul><li>Nebraska’s 2011 estimates represent an 84% increase over original findings </li></ul><ul><li>51 of 93 Nebraska counties are experiencing their peak years of transfer now or in the next 10 years </li></ul>
    9. 10. County-Based Transfer of Wealth
    10. 11. Transfer of Wealth: A Unique Opportunity <ul><li>To build philanthropy and endowments </li></ul><ul><li>To prove that capital is not the limiting resource to community development </li></ul><ul><li>Achieve sustainability (by using Asset Based Community Development) </li></ul><ul><li>To break out of a cycle of dependency </li></ul>
    11. 12. Wealth Transfer Opportunity by Region
    12. 13. Transfer of Wealth Scenarios for Endowment Building
    13. 14. Transfer of Wealth is at Work Today
    14. 15. Holt County Transfer of Wealth
    15. 16. Holt County
    16. 17. What to do now? <ul><li>Establish an endowment for your library </li></ul><ul><li>Give to your existing library endowment </li></ul><ul><li>Ask your library patrons to give to the library endowment </li></ul><ul><li>Create a provision in your estate plan to benefit your library endowment </li></ul><ul><li>Talk with your library patrons about including the library in their estate plan </li></ul>
    17. 18. 2011 Transfer of Wealth Study Resources <ul><li>www.nebcommfound.org/ </li></ul><ul><li>Summary report: tow_news_room/ </li></ul><ul><li>County-level analysis: programs-research/ transfer-of-wealth/ </li></ul>
    18. 19. Some NCF Community-Based Affiliated Funds benefitting Libraries: <ul><li>Bertrand </li></ul><ul><li>Burwell </li></ul><ul><li>Greeley </li></ul><ul><li>Hebron </li></ul><ul><li>Imperial </li></ul><ul><li>Nebraska City </li></ul><ul><li>Ogallala/Keith County </li></ul><ul><li>Pender </li></ul><ul><li>Wausa </li></ul><ul><li>Waverly </li></ul><ul><li>Wilber </li></ul><ul><li>Wymore </li></ul>
    19. 20. Kreutz Bennett Donor-Advised Fund <ul><li>Grantmaking </li></ul><ul><li>Planning, enhancement and facilities grants to public libraries in communities with fewer than 3,000 residents </li></ul><ul><li>Application </li></ul><ul><li>Grants awarded annually in March </li></ul><ul><li>Short application due October 1 of the prior year (Short applications received by October 1, 2011 will be considered for grants made in March 2012.) </li></ul><ul><li>Invited full applications due January 13 </li></ul>More Information www.nebcommfound.org/fund/kreutzbennett
    20. 21. For more information: <ul><li>Jeff Yost </li></ul><ul><li>President and CEO </li></ul><ul><li>Nebraska Community Foundation </li></ul><ul><li>402/323-7332 </li></ul><ul><li>[email_address] </li></ul>

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