This podcast is a recorded interview with Tom Fryer discussing the transfer of wealth opportunities which exist for schools and other nonprofit organizations in our communities. Tom is one of the 2008-2009 trustees of the Manhattan Community Foundation (in Manhattan, Kansas) and an advocate for educational efforts focused on estate planning which include giving to community foundations as well as nonprofit organizations via endowments. According to the Kansas Association of Community Foundations, $66 billion will be transferred from one generation to the next in the state of Kansas by 2020. If only five percent of those dollars could be set aside, that would equate to $3.3 billion being available as endowed funds for Kansas schools and other nonprofit organizations in Kansas communities in the next 12 years. The transfer of wealth (TOW) opportunity is not limited to Kansas, this is a nationwide phenomenon and opportunity. Educational leaders and other community advocates need to be both aware of and proactive about their local TOW opportunities, and partner together to allow local citizens to give back to their communities via local endowments. In contrast to one-time gifts which have a limited impact, endowments supported by community and school foundations can create and leave a positive legacy which can benefit a community in innumerable ways for years to come. Virtually everyone involved in U.S. public education today faces funding shortfalls for worthwhile programs. Community / school foundation advocacy and partnerships can help address these funding shortfalls and open up superb opportunities for learning which otherwise may be impossible for students and teachers in our schools.

Show Notes:

  1. Greater Manhattan Community Foundation (Kansas)
  2. Greater Manhattan Community Foundation Announces Wealth Transfer Research Nearly $5.9 Billion Potential in Riley County
  3. Millionaires and the Millennium by John J. Havens and Paul G. Schervish (PDF format – Boston College Social Welfare Research Institute – October 1999)
  4. Kansas Association of Community Foundations (includes Transfer of Wealth Research and Overview)
  5. Kansas Health Foundation (provides matching funds for some educational foundations in Kansas)
  6. Boston College Center on Wealth and Philanthropy
  7. Nebraska Transfer of Wealth Study (1999)
  8. Wisconsin Transfer of Wealth Study (2006)
  9. Nebraska Community Foundation
  10. The 2008 Rural Philanthropy Conference page (Nebraska: 10-12 September 2008)
  11. Endow Nebraska: Building a Brigher Future for Generations of Nebraskans
  12. HomeTown Competitiveness: Providing Tools and Training to Help Small Towns Thrive (from the University of Nebraska – Lincoln)
  13. Donors Forum of Wisconsin: A professional membership association for grantmakers in Wisconsin
  14. RUPRI Center for Rural Entrepreneurship: Our mission is to help leaders and citizens in rural communities and regions across the U.S. embrace entrepreneurship as a core rural economic development strategy.

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