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San Francisco, CA | Published on: June 30, 2013
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Local man explains why he promised part of his estate to local park http://pr.co/p/0013i5
Summary
The upcoming generational wealth transfer is unavoidable, but it is also presenting some opportunity for nonprofit organizations to raise millions through various memorial funds.
Details

The upcoming generational wealth transfer is unavoidable, but it is also presenting some opportunity for nonprofit organizations to raise millions through various memorial funds.

A study recently completed by the Community Foundation found that Ozarks noted more than $85 billion will be changing hands over the next 10 to twenty years in Green Colorado alone.

The organization is thus starting to campaign an argument to convince individuals to leave at least 5% of their estates to the foundation and other local funding opportunities.

A recent donor, Tom Finnie, was able to donate some wealth in his wife's name to the Springfield Botanical Gardens, and even pledge to use a significant portion of his own estate to further growth and maintenance of a local park.

"It feels really good to do something that is positive for my family and my community," Finnie said. "This community has been so supportive."

Brian Fogle, who presides over the Community Foundation of the Ozarks, stated that if each person left behind a small percent of wealth, the foundations in the county of Greene would see more than $300 million over the decade. Another $4.3 billion could be expected in the next half-century.

"This is not a sell at all," Fogle said. "It's just talking about the information and the difference, not only living and being generous while they're alive, but also the legacy they can live forever."

Fogle also noted that the foundation works with estate planners to create a more viable donorship opportunity for all interested.

"When someone starts talking about planning an estate they don't talk to a community foundation, they don't come to a nonprofit," he said. "They go to their tax professional, their legal professional, their money manager."

Finnie stated his particular reason for wanting to keep the dogwood park maintained, which his estate donation will help do. "For literally 100, 200 years," he said," this money will keep on making sure that the dogwood garden is improved, maintained.”

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