Transfer of Wealth:
What does it mean for
my community?
Aubrey Abbott Patterson
March 23, 2017
What could TOW mean?
• Inspiration and a shared community vision
• A clear purpose for your community foundation
• Significant legacy commitments that are
thoughtful & permanently endowed
• Ultimately, more money to address the everchanging needs of the community
What do you need to get started?
 A big number
 A story and a place to tell it
 A goal
 A call to action
 A handout to leave behind
Memorize your BIG number
$1.7 Billion (Yes, that’s a “B”)
will transfer from one generation
to the next in Reno County by 2020
By 2064 the number is nearly $12 billion.
Practice your story
• Families in our community have amassed great
wealth and in many cases, their children no longer
live in this community that helped raise the kids and
build the family business.
• When the parents pass away, the kids come home
for the funeral, settle the affairs and stop at the bank
on the way out of town.
• The money goes directly to a firm in Chicago, Austin
or L.A. and it’s gone from our community.
Practice your story 2
• In fact, a recent study by WSU shows that between
2010 and 2020, more than $1.7 billion will change
hands from the oldest generation to the next in Reno
County.
[GASP! Really?!]
• Yes, really.
What if…
• We asked families to carve out just 5% of their total,
final estate and leave it to this community that they
love?
• Would their kids miss it? Probably not.
• Would it make a difference here at home? Yes.
The 5% goal is clear
Together, let’s “capture” just 5% of the $1.7 billion changing
hands by 2020.
5% equals $85 million that could be endowed.
If we only spend the income, our community will benefit
from an additional $4.25 million every year forever for
things like preschool for every child, workforce housing
developments, repairs to the city pool, enhancements to our
wellness center. The list goes on and on…
Call to action
What Can You Do?
1.
Designate the community foundation or your
favorite charity to receive 5% of your final estate
through your will or trust.
2.
Start the conversation with your friends and
neighbors.
3.
Be willing to share your own giving story and
encourage others to do the same.
4.
Invite Aubrey to share the Transfer of Wealth
information with anyone who will listen. Be
creative.
5.
Introduce Aubrey to potential donors and your
professional advisor.
Leave them with a handout
What do you need to get started?
 A big number
 A story and a place to tell it
 A goal
 A call to action
 A handout to leave behind
The results at Hutch CF?
• We have doubled our assets since 2010.
• Our endowed fund assets have grown by $12 million to total nearly 60% of
our total assets.
• Tripled the list of names in the Legacy Society.
• We’ve put roughly $60 million in the planned gift pipeline.
• We endowed the Fund for Hutchinson (unrestricted grantmaking fund)
and met our first goal of $3 million in unrestricted assets by 2017. Now
we’re working on $20 million by 2030.
• A clear purpose for our community foundation.
The outcome for Reno Co?
• Inspiration and a shared community vision
• Significant legacy commitments that are
thoughtful & permanently endowed
• Growing endowments for local nonprofits
• Ultimately, more money to address the everchanging needs of the community
Learn other tools & strategies at
3:00 today!
• Educate professional advisors
• Train nonprofit partners
• Empower board members to tell the story
• Recognize and celebrate those who make a Legacy
commitment.
• Use www.keepfiveinkansas.com developed by Kansas
Association of Community Foundations
Questions?
• Ask now!
• Call Aubrey Abbott Patterson at 620-663-5293 or
email [email protected].