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Transfer of Wealth

   Keep 5 In Kansas

Grant County Gives

Transfer of Wealth

Study Updated

The transfer of wealth study was commissioned by the Kansas Health Foundation and was conducted by the Center for Economic Development and Business Research at Wichita State University in 2007 and has been recently updated in the summer of 2012. Future intergenerational wealth transfer for the state and for each county in Kansas was estimated based on a model initially created by Boston College.

Transfer within Kansas

The Kansas Association of Community Foundations (KACF) projects that over the next 8 years, nearly $79 billion will transfer from one generation to the next in the state of Kansas. Most of this wealth will be transferred to heirs or applied to taxes. However, Kansas community foundations are leading an effort to ensure that a portion is preserved and invested in communities across the state. "Our conservative goal is to secure 5 percent of the total amount of wealth being transferred in the next 8 years by encouraging individuals, families and businesses to give together to community foundation endowments or to local nonprofits. Through this generosity we have the potential to add $3.9 billion to community foundation endowments" stated Svetlana Hutfles, KACF executive director.

Local Transfer

"For many years, families lived their lives close to their homestead and near other relatives and as wealth passed from one generation to the next, assets and support stayed local.  As times have changed, so has this trend," states Shea Sinclair, Western Kansas Community Foundation executive director.  "As wealth and assets leave western Kansas, it may never return."

Grant County

          Estimated wealth to be transferred                5% capture goal
                 between 2010-2019
                        $ 196,213,113                                     $ 9,810,656

 

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   (c) 2012

 

     GRANT COUNY COMMUNITY FOUNDATION  P.O. Box 65, Ulysses, Ks. 67880  620-356-4223  grantccf@gmail.com