November 13, 2012 1:00-3:00pm
Community Foundation Transfer of Wealth Study at Lifelong
119 W. Court Street
Ithaca, NY 14850
Creating Permanent Charitable Resources for Local Control
This presentation requires registration and a fee through Lifelong. Registration information is available at the Lifelong website.
An unprecedented transfer of wealth from the World War II generation to the baby boomers and then from the baby boomers to the next generation is happening right now!
In the 50 years from 2010 to 2060, $38.63 billion will transfer from one generation to the next in Tompkins County.
If only 5% of this local wealth was earmarked for charitable endowments, the resulting $1.93 billion fund would generate millions of dollars, untouched by government budget cuts, every year for local community projects and priorities—forever. After just ten years, local charitable endowments could hold a $126 million value resulting in grants for local needs of $6.3 million.
George Ferrari of the Community Foundation will present the latest research on the transfer of wealth potential for Tompkins County and how donors and their professional advisors can make specific plans to leave philanthropic assets for the benefit of the community.