Et cetera : Iowa Transfer of Wealth Study Reveals $128 Billion in Community Giving Potential

Iowa communities could lose billions of dollars in assets over the next decade, according to "Transfer of Wealth Opportunity State of Iowa," a recent study commissioned by the Iowa Council of Foundations (ICoF). The study estimates that more than $30.4 billion in Iowa assets will change hands in the next 10 years with the passing of older residents.

Over 40 years, the figure swells to $128 billion. If heirs and successors live out of state, those assets-from agricultural land to stock dividends-may leave the community where they were generated. "The 2024 Iowa Transfer of Wealth study illuminates a significant shift on the horizon that could challenge communities across the state," said Kari McCann Boutell, ICoF president."This data also presents exciting potential for Iowa small towns and cities that inspire locals to include hometown causes in their charitable giving plans."

Planned endowment giving through the Benton County Community Founda[on (BCCF) can help protect, grow and spread resources that would otherwise disappear from the community. "People who are passionate about their community can be part of the solution," said Kaye Englin, President and CEO of the Community Foundation of Northeast Iowa, the host Foundation for the BCCF. "We are here and available to help generous people who love where they live understand how, by taking simple actions now, they can make a long-term local impact."

Iowa Community Foundations, an initiative of ICoF, recently launched a coordinated effort to encourage donors across the state to commit five percent of their assets to local charitable giving. A new coordinated philanthropic initiative, '5 for the Future,' educates Iowans about the implications of wealth transfer and provides simple steps individuals can take to help communities retain and reinvest local funds. "Iowans are hardworking and humble, and many of us don't feel we fit the label of 'wealthy philanthropist,'" Boutell said."This campaign is about empowering families to make a lasting impact by sharing a slice of their assets. It's more about potluck-style philanthropy than relying on a few major donors to make a difference."

Donating just 5% of the $30.4 billion expected to transfer would create over $1.5 billion in new endowments, according to the research, which was conducted by the University of Minnesota Extension. Over 20 years, those funds could support grantmaking of more than $1.8 billion toward local projects, which might include adding accessible workforce housing, developing art and cultural experiences, and strengthening hubs for innovative programming.

"If each of us chose to invest five percent of our assets in community causes, imagine how Iowa dreams could flourish," Boutell said. "Our Iowa Community Foundations network is working to cultivate hometown generosity and secure vibrant futures in places like Benton County."

The Benton County Community Foundation, an affiliate of the Community Foundation of Northeast Iowa, is a place of connection, where generosity and community action meet to create powerful impacts to improve the quality of life for all. In 2023, the Benton County Community Foundation awarded $310,013 to projects that support growth in the Benton County area. Since 2005, the Benton County Community Foundation has awarded a total of $1.9 million to organizations serving Benton County. To learn more about the Benton County Community Foundation's