Our country is undergoing a historic transfer of wealth, between baby boomers – America’s wealthiest generation – and their loved ones.
In Broward County alone, a staggering $55 billion is projected to change hands over the next decade, according to a study commissioned by the Florida Philanthropic Network. That grows to an unprecedented $664 billion – of homes, businesses, investments and other transferred wealth – over 50 years.
This life-changing, economic phenomenon for many people in Broward is also an opportunity to transform our community through a potential increase in charitable giving.
If Broward residents commit just 5 percent of this 10-year transfer of wealth to local philanthropy, that could create nearly $3 billion in new charitable endowments. Achieving $3 billion in new endowments could generate $150 million in annual grants to tackle growing needs in our community for generations to come.
Because endowments grow through careful investment, they create sustainable, permanent support to tackle today’s big challenges and shape a brighter future.
In Broward, an infusion of another $150 million in endowed, philanthropic support each year would be a gamechanger for health care, affordable housing, education, the arts, seniors, our environment and many other opportunities to make life better in our community.
Preparing for Broward’s Transfer of Wealth
Here’s how the Community Foundation of Broward can help you make a BOLD impact with your endowed giving:
- Make a BOLD impact today by creating or adding to an endowed charitable fund at the Community Foundation.
- Lock in a legacy of BOLD impact by including the Community Foundation in your estate plan.
- Explore your options by learning more about the power of endowed giving through the Community Foundation.
- How much is Florida’s projected transfer of wealth? Florida Transfer of Wealth study
- How does Broward’s philanthropy compare to its peer communities? Broward philanthropy study
The Community Foundation is a go-to resource to help you make a BOLD impact with your endowed giving. Contact Matt Kahn, Senior Director of Philanthropic Services, at email@example.com or 954-761-9503 to discuss how we can help you make the most out of your philanthropy.