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Securing Our Future:
The Power of Giving Together
New Research
The Sangamon County Community Foundation and the Center for Rural
Entrepreneurship have released a study on private wealth in Illinois.
Download the Report
Download an
Executive Summary of the Report
Download the Report
Methodology
 In
50 years, $1.35 trillion is expected to pass from one generation to the
next in Illinois. In just 10 years, $182.3 billion of it will have
transferred.
New research commissioned by the Sangamon County Community Foundation
projects and unprecedented transfer of wealth. In Sangamon County alone,
$21.2 billion is projected to change hands within the next 50 years. This
includes $2.8 billion within the next 10 years.
National research projects a $53 trillion transfer of wealth across the
United States. But while the average transfer nationwide will peak after
50 years, wealth transfer in many Illinois counties will crest in 20 to 30
years.
Much of this wealth is currently invested in family homes and farms,
retirement accounts and other appreciated assets -- some of which may be
heavily taxed if given to heirs.
New research
Sangamon County Community Foundation, in partnership with the Center for
Rural Entrepreneurship, has released a study on private wealth in
Illinois. The study was supported by the W.K. Kellogg Foundation, as well
as by investments from community foundations in Illinois, Michigan and
Ohio. There were 25 community foundation investors in Illinois, and each
is using their resources to optimize this study's findings in their
counties.
The study helps us understand the size and timing of the transfer of
wealth across Illinois and within each of our counties -- our hometown
portions of the $53 trillion transfer of wealth expected to ripple across
the county in the next 50 years.
A one-time opportunity to create permanent
benefits for Sangamon County
If only 5% of local wealth was earmarked for charitable endowment, the
resulting $138.2 million fund would generate millions of dollars every
year for community projects and priorities in Sangamon County -- forever.
The Sangamon County Community Foundation invites you to secure our future
by building the endowments at SCCF that are dedicated to improving the
quality of life in Sangamon County.
When you give through the Sangamon County Community Foundation, we can
establish a fund in your family name, in the name of a loved one, or the
name of a cause that's important to you. Endowed funds last forever and
grow over time because the principal is never spent. Earnings are used to
make grants in the name of your fund - creating a legacy of giving in
Sangamon County.
Ways to give
If you are retired, a planned gift from your estate may be more attractive
to you and your family than a large gift today. You can leave a permanent
legacy of giving, be a source of pride to your family and join others like
you to build a stronger community.
Three smart, easy ways to make a planned gift to SCCF include:
- Designate your local community
foundation, SCCF, as the beneficiary of your IRA, 401 (k) or
other retirement account. These assets can lose up to 70% of their
value when passed to heirs; changing the beneficiary designation does
not involve modifying your estate plan.
- Designate your local community
foundation, SCCF, as the beneficiary of a life insurance policy.
There is no need to modify your estate plan.
- Ask your attorney to add the Sangamon
County Community Foundation to your estate plan.
Talk to the Sangamon County Community
Foundation and your professional advisor to learn about all of your giving
options and choose the one that's right for you and your community.
For more information, contact SCCF Executive Director John Stremsterfer at
217-789-4431 or email
Stremsterfer@sccf.us.
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