$15 Million Potential for Good Works In Greene County by 2015
Indiana Grantmakers Alliance releases Transfer of Wealth Study
A new study projects $412 billion will be transferred among Indiana generations by 2055, with $66 billion changing hands by 2015. Commissioned by the Indiana Grantmakers Alliance, the study includes county-by-county projections showing the transfer of wealth from one generation to the next. If just 5 percent of the projected wealth transfer for Greene County is captured in donations to the community foundation, there is the potential for $750,000 in grants for improvements to the county in the next 10 years. The Indiana Grantmakers Alliance calls this a historic opportunity for charitable investments. Community leaders hope the results will inspire people—at all income levels—to consider making a charitable investment to enhance our quality of life and strengthen communities.
Building a Stronger Greene County
“This study will start conversations and make people think about what is most important to them here in Greene County. We hope they’ll consider making a charitable investment through their community foundation to enhance the quality of life and encourage sustainability in Greene County,” said Kerry Conway, executive director of the Greene County Foundation.
The study follows the work of Boston College researchers who reported that the United States was at the beginning of a $41 trillion transfer of wealth from one generation to the next (Havens & Schervish; Boston College, 1999). The Center for Rural Entrepreneurship in Lincoln, Nebraska, conducted the Indiana study and has conducted similar research in Nebraska, South Dakota and Wisconsin.
Battling ‘Brain Drain’
Like Indiana, those states face swiftly changing demographics, an aging population and the loss of young people to metropolitan areas and the coasts. Indiana is currently battling ‘brain drain’—the loss of college graduates to other Midwestern states and beyond—and a changing business climate that has seen corporate headquarters move outside the state. These are among the top concerns residents have about quality of life.
“This is an opportunity to think about charitable giving in a new way,” said Cam Trampke, Greene County Foundation president. “This is about charitable investments that will help our community survive and thrive.”
About Indiana Grantmakers Alliance and Greene County Foundation
Indiana Grantmakers Alliance is a membership organization of grantmaking staff and Board members, dedicated to advancing philanthropy in Indiana by promoting legal, ethical, effective and efficient grantmaking. As part of the Alliance, the GIFT program (Giving Indiana Funds for Tomorrow) provides technical assistance to the statewide network of community foundations. For more information, go to www.indianagrantmakers.org. The Greene County Foundation (GCF) is a community foundation created in 1998 for the promotion of philanthropy in Greene County. GCF is the primary source for charitable funding and philanthropic donor services in the Greene County community. Local charities and scholars have benefited from nearly $9 million in grants as well as enhancing the community through various community projects. GCF core values include: stewardship, accountability, leadership, credibility, community and philanthropy. For access to the complete Transfer of Wealth report, contact the Greene County Foundation at 812-659-3142 or email us.