News

June 22nd, 2022

2022 Transfer of Wealth Study to be Released July 1

 

Our community has resources and capacity to do even more. Tompkins County households current net worth is approximately $29.6 billion.

We commissioned a special study to learn more. This latest research to be released on July 1, 2022 updates our original study from 2010. It focuses 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.

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 Tompkins County over the 50 years from 2020 to 2070, more than $30.2 billion will transfer from one generation to the next.

If only 5% of this local wealth was earmarked for charitable endowments, the resulting $1.51 billion fund would generate millions of dollars, untouched by government budget cuts, every year for local community projects and priorities—forever.