The Truman Heartland Community Foundation joined up with nine other Community Foundations throughout the state of Missouri this spring to conduct a study about the potential of charitable giving from estate gifts as wealth is transferred from one generation to the next.
The study asked, “What if just 5 percent of the wealth transferred went to charities like Truman Heartland Community Foundation to create endowed funds?”
The study estimates over the next 10 years $135 billion will be transferred in Missouri from one generation to the next. If just 5 percent of this amount went to create endowments for charities that would equal $6.75 billion and these endowments would annually generate more than $337 million to support the work of nonprofits making a difference in the state of Missouri. Just 5% going to charities can make an incredible impact for good and forever.
The study also did estimates for each county in Missouri. In Jackson County the estimate is $14 billion will be transferred over the next 10 years; 5 percent to endowments would total $700 million that would generate $35 million each year for nonprofits in the community. In Cass County the estimate is $2.84 billion will be transferred over the next 10 years; 5 percent to endowments would total $142 million that would generate $7.1 million each year for nonprofits in the community. Again, just 5 percent going to charities in our community can make an incredible impact for good and forever.
The Independent Transportation Network
I have some good news to share regarding the Independent Transportation Network Greater Kansas City. You may recall from my previous columns this is a new nonprofit designed to keep seniors independent when they are no longer able to or don’t wish to drive. The Truman Heartland Community Foundation has been helping them get established in the community through grants and other support.
On Wednesday July 24th they are having their 1st Annual “Friendraiser” at the Gamber Center. Coffee and networking begin at 7:00 a.m. with breakfast and the program from 7:30 to 8:30. Lee’s Summit will be the first community in the metro area served by ITN and they will have some exciting announcements that morning. If you are interested in learning more about ITN and supporting their efforts, please attend and make a reservation by calling Suzy Makalous at 913-481-1124.
Phil Hanson has been the president of the Truman Heartland Community foundation since January 2010. Raised in the Raytown area he went to Rockhurst University for his undergraduate and UMKC for his MPA. He lead the fundraising staff for the United Way in Kansas City where he served for 23 years and later was with the American Lung Association for 3 ½ years.