What is the transfer of wealth?
Many of us reach a point in life when we begin thinking about how we want to give back, how to create a legacy that reflects our values and strengthens the community we call home.
In the past, wealth often stayed in one place, as families lived for generations in the same communities. Today, with more families moving away, rural areas are seeing much of that wealth leave as well.
This shift, known as the transfer of wealth, presents both a challenge and an incredible opportunity for rural Illinois. A 2020 study estimates that in just the next decade, about $15.1 billion will transfer from one generation to the next in the CFCI service area (Marshall, Peoria, Putnam, Stark, Tazewell, and Woodford counties). If only five percent of that wealth were invested into community endowments, it would create a $758 million fund, generating more than $37.9 million every year to benefit our region, forever.
Now imagine the impact if even a small portion of that wealth stayed right here in our rural communities in places like Lacon, Chillicothe, Toulon, Delavan, and Eureka with supporting the very communities where it was built.
Help Us Create Generosity Across Generations
At the Community Foundation of Central Illinois, we believe this unprecedented transfer of wealth is an extraordinary opportunity to create lasting positive change in our communities. With your partnership, we can turn these resources into meaningful impact, strengthening our region today and for generations to come.
To learn more about the transfer of wealth and what you can do to make a lasting impact in your community, contact Sarah Fletcher, VP of Philanthropy.