ABOUTCOLUMBUS AREA PHILANTHROPY COUNCIL
The Columbus Area Philanthropy Council is an association of Columbus-area non-profit organizations. We focus on the development of a ‘culture of giving’ in the community to benefit the citizens and agencies of Platte County and the surrounding area for generations to come. Our goal is to increase giving to all local endowments and to help donors receive the joy and fulfillment of creating their legacy
HOW IT WORKS
Participating organizations have provided representation in a collaborative effort they have named the Columbus Area Philanthropy Council (CAPC) modeled after similar organizations in Fremont and Norfolk. Each of the seventeen nonprofits manages their own fundraising for both annual gifts and donations to the endowed funds that support their efforts. The CAPC is particularly focused on the cultivation of gifting to endowments since these funds will provide income support to area agencies in perpetuity.
WHAT’S AN ENDOWMENT?
An endowed fund receives charitable donations of money or property with the stipulation that the donation be invested and that the donation principal remains intact. The institution supported by the endowment can spend only the annual earnings of the invested principal and in accordance with the wishes of the donor. This allows for the gift to provide support to the institution\ for an unlimited number of years. The goal of the CAPC is to increase giving to all local endowments and to help donors receive the joy and fulfillment of creating their own legacy.
It is important to remember that much of what we call the “Good Life” in Nebraska is the result of those who came before us – people who had the vision to build the parks, churches and schools and the passion to create the wonderful services and agencies that improve the quality of life in our area. As supporters of charitable causes here in Columbus and Platte County, CAPC is interested in sharing information about an extraordinary opportunity the entire region shares at this moment in time.
Transfer of Wealth
Over the next 50 years, our nation will experience the largest inter-generational transfer of wealth in history, with $603 billion expected to transfer from one generation to the next within Nebraska. Most of this wealth will go to heirs, some will go to taxes, but some could be preserved as a legacy for the future of our community. Retaining even a small portion of that wealth for philanthropic purposes close to home is a historic opportunity for Columbus and the Platte County area and for people who care deeply about the places they call home.
In Platte County, the estimated 50-year inter-generational transfer of wealth is $7.75 billion. Within just the next 10 years, $897 million is expected to transfer from one generation to the next in this county.
This wealth may be held in residential and agricultural real estate, securities, retirement accounts, business ownership and other assets. Some of the money will likely be paid as taxes to the federal and state government and even more will go to relatives or charities outside of the country. Imagine if we all designated just 5% of those dollars in a will or estate plan to stay here and support our community. That would be $387.5 million working in our region!
For generations, most Nebraskans lived their entire lives close to their birthplace. One family might occupy the same property, even the same home, for multiple generations. Platte County wealth passed from generation to generation but stayed in Platte County. Due to out-migration of our young people – sometimes to other places in Nebraska, sometimes out of the state – many of the next generations no longer live in Platte County.
If only a small portion of this wealth – just 5% – were given back through charitable gifts and endowed in local funds over the next decade, our county would have more than $45 million in permanent “savings accounts” within just 10 years. All of this money could be put to work for community and economic development and to further enhance the quality of life enjoyed today and for generations to come.
*Research from The Nebraska Community Foundation‘s “2011 Transfer of Wealth Study.” The study provides stunning insights into the true abundance Nebraska enjoys and the critical need to act now to preserve one of those important resources.