Report predicts Wealth Transfer of $17.25 billion from 2011-2060 - July 1 2014

Foundation seeks to create awareness, support for nonprofits

OSHKOSH, WI - Charities in the Oshkosh area have the potential to gain billions of dollars in donations, according to a new study on the amount of wealth that will be passed between the generations.

If residents donated just 5 percent of their assets through a will or estate plan to local charities, that would amount to nearly $5 million a year to fund programs, projects and community initiatives, the 2014 Transfer of Wealth in Winnebago County study shows.

Download the 2014 Transfer of Wealth in Winnebago County Study

View the U.S. Wealth Transfer Report

During the next 10 years, $1.99 billion will change hands in the form of generational wealth. The study estimates that $17.25 billion will be passed down over the next 50 years.

"What this means is that we have an opportunity right now to ensure a solid future and even better quality of life in our Winnebago County communities," said Diane Abraham, president and chief executive officer of the Oshkosh Area Community Foundation, the sponsor of the study. "If our communities are going to be place where young families will want to live, work and play, we need to invest in them and continue to generate wealth."

For generations, local residents have worked hard and saved money for the future, Abraham said. But many of the next generation no longer live in our community. The out-migration of the younger generation means less inherited dollars stay local.

"Just think of what $5 million year could do when distributed among our nonprofits - maybe your interest is education, or the arts, helping the needy, or our natural resources," said Karlene Grabner, Foundation director of donor services. "It's really a matter of encouraging people who have a connection to this region, who have a passion or a desire to make a difference, to take steps to leave a legacy. If you have three children, think of the community as a fourth. Leave something behind for all of your children, including your community."

Sponsored by the Foundation and completed by the Center for Rural Entrepreneurship based in Lincoln, Neb., the study uses conservative estimates of economic growth and asset values over 10, 20 and 50 years. The analysis concludes that Winnebago County's net worth is $22.8 billion. Between 2011 and 2020, $1.99 billion will be transferred from one generation to the next.

If 5 percent was donated to charities during this decade, it would amount $99.5 million. If invested in charitable endowments, it would have the potential of generating $5 million in annual payments to charities.

The Foundation sponsored the study as a follow up to a 2006 statewide Transfer of Wealth initiative. The research was completed just ahead of a national Transfer of Wealth study that estimates $59 trillion will be transferred from estates in the United States over the next 50 years.

The national report, released by the Center on Wealth and Philanthropy at Boston College in May, predicts that of that $59 trillion Transfer of Wealth, heirs will receive $36 trillion, federal taxes will claim $5.6 trillion and $6.3 trillion will be directed to charity.

The Foundation is hoping educate the community, especially financial advisors and nonprofit organizations, about this research and the opportunities that exist.

Download the 2014 Transfer of Wealth in Winnebago County Study

View the U.S. Wealth Transfer Report

To make a one-on-one appointment or set up a group presentation of this material, please contact Karlene Grabner at 920-426-3993 or by email at Karlene@OshkoshAreaCF.org.

The Oshkosh Area Community Foundation is a nonprofit charitable organization created by and for the people of Winnebago County, Waushara County, Green Lake County and Ripon. Through charitable giving, the Community Foundation strives to make our communities thrive.

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