News
June 30th, 2022
2022 Transfer of Wealth Study Now Available
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! We commissioned a special study to learn more.
Our community has resources — Tompkins County households current net worth is approximately $55 billion. Yes, over the next 50 years, from 2020 to 2070, more than $55 billion will transfer from one generation to the next.
Here is the latest research on the transfer of wealth CF Tompkins snapshot. If each of us (talk to your professional advisors) gives a portion of our resources to leave philanthropic assets it will definitely benefit the community.
If we can capture 5% of the 10 year transfer and invest it over 20 years, the Community Foundation can build a $300 million endowment. You and others would create a significant pool of resources under local control to support community needs.
Your gift is needed. Please add the Community Foundation to your will, as 5% of your estate to the endowment will make a difference. Adding to the endowment creates a regular stream of grants to Tompkins County nonprofits. Your legacy could help in the first 20 years of grantmaking with an average annual $17 million in grants. That’s a big boost to strengthen our community!
See a list of other Legacy Society donors HERE. What impact do you want to leave behind?
If you’d like to speak with us to assist with your transfer of wealth planning, contact Nancy Massicci at nmassicci@cftompkins.org or George Ferrari at gferrari@cftompkins.org.