9/7/2010 12:28:39 PM - 0 Comments
2010 Leadership Expedition trip to Pittsburgh
uncovered many key factors for successful, thriving hubs of innovation and
activity. One area the GLI/Commerce Lexington group explored was the impact of
philanthropic giving, which has been a theme studied at several past GLIDE trip
locations as well.
and a rich culture of philanthropic organizations is one way communities create
rich quality of life for their residents. In today’s Courier-Journal, an
interesting article discusses Kentucky’s
philanthropic potential. A recent study from Center for Rural Entrepreneurship estimates
that $3.6 billion is charitable giving is available if philanthropies succeeded
in capturing just five percent of the wealth expected to shift generations by
2020. The article notes:
Kentucky Philanthropy Initiative's “transfer of wealth” study, conducted by the
Nebraska-based Center for Rural Entrepreneurship using Federal Reserve reports,
estimates that as much as $72billion could be transferred to Kentucky heirs over the next 10 years.
part of a $41 trillion “transfer of wealth” predicted to occur nationwide by
2053 as the post-World War II generation passes on its assets to heirs — and it
is viewed by some as a golden opportunity for philanthropic giving.
percent of Kentucky's
estimated wealth transfer over 10 years could generate endowments producing
$180 million a year to support economic development, educational attainment or
job-creation programs across the state.
the complete article here. What are your thoughts on philanthropic giving and
its impact on our community?
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