Despite economic downturns that followed the burst of the dot-com bubble and the September 11th terrorist attacks, Boston College researchers John J. Havens and Paul G. Schervish have continued to stand by their projections.
The potential for a new “golden age of philanthropy” prompted the Nebraska Community Foundation/Center for Rural Entrepreneurship to develop a methodology and project Nebraska’s wealth transfer on a county-by-county basis.
The state’s projections have now helped catalyze county-by-county economic development, leadership and community improvement efforts. Valley County, in particular, has seen a marked improvement in its preparedness for the future. Residents there have focused on capturing a portion of the transfer of wealth for charitable purposes and are now looking to recruit ex-patriot wealth—from those who grew up in Valley County but now live elsewhere. Other states would soon follow Nebraska’s lead. Wisconsin is among them.
GRAPHIC COMING SOON!
Caption: Map courtesy Nebraska Community Foundation/Nebraska Center for Rural Entrepreneurship
Impressed by the work in Nebraska and spurred by the sale of a family-owned Fortune 500 paper company to an international company, the Community Foundation of South Wood County was the first in Wisconsin to conduct wealth transfer research as the first part of a large-scale economic development and stabilization initiative to prevent wealth from leaving the area.
The Wisconsin Community Foundations Division of the Donors Forum of Wisconsin soon announced plans to conduct statewide research on the wealth transfer. In December 2005, the Nebraska Community Foundation/Center for Rural Entrepreneurship completed a draft wealth analysis report.
Wisconsin's Certified Community Foundations will publicly release the final Wealth in Wisconsin findings on September 6, 2006 and begin educational efforts to discuss retaining a portion of the wealth transfer for charitable purposes. The goal: Use the transfer of wealth as a springboard to improve our communities and our state. The study provides a message of hope for communities hit hard by economic shifts, brain drain/brain gain and changing demographics. It demonstrates Wisconsin residents have the potential to invest in the the future of the state and its communities.
The Center for Rural Entrepreneurship has completed their Wealth Analysis for Wisconsin
Wealth in Wisconsin Complete Report [PDF]
Wealth in Wisconsin Executive Summary [PDF]
Frequently Asked Questions [PDF]
Let's Talk about It! [PDF]
Conversation Starting Tips
http://www.bc.edu/research/swri/
www.nebcommfound.org
Community Foundations administer and invest more than $1 billion in charitable funds, helping Wisconsin residents make good things happen in their communities. For more information on the state’s 21 Certified Community Foundations please visit www.wisconsingives.org.
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