As more and more local residents choose to move away from the hometowns they grew up in, communities like ours are seeing wealth leave with them. This shift is known as the transfer of wealth.
As more and more local residents choose to move away from the hometowns they grew up in, communities like ours are seeing wealth leave with them. This shift is known as the transfer of wealth.
Families of all income levels have something to contribute. An average of $49,000 per household and $145,000 per death will be transferred out of Wood County in the next ten years, with an estimate of about $1.6 billion transferring from one generation to the next during that time. Imagine the impact if even a small portion of that wealth stayed here.
We’re not referring to the investments of the ultra-wealthy. We’re talking about a small percentage of the life savings of teachers, farmers, small business owners, and nurses – people who built something here and, with the right invitation, would love to leave some of it here.
If every person living in Wood County directed just 5% of their will or estate as a planned gift to a community foundation endowment, in total, the wealth would create a $78 million fund that could produce more than $93.1 million in grantmaking to support our hometown communities over the following twenty years.
Healthy and vibrant places take investment – in schools, housing, streets, businesses, hospitals and so much more. The Hometown Giveback could ensure our communities have the resources we need to make investments in our future.
Let’s start a conversation about the Hometown Giveback today and find ways to invest in our community for tomorrow. Future generations are counting on us.
