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 Recent Questions How to Ask Faculty & Staff for Gifts? How Restrictive Is The HIPPA Privacy Regulation? |
Dollars and Sense
The Transfer of Wealth Sharon Larkins-Pederson is the Senior Gift Planner at the Medical College of Virginia (Richmond, Virginia). She poses a fascinating question. Here’s what she asks: “How does one make any sense out of the many conflicting so called ‘expert’ estimates of actual turnover of wealth over the next twenty years? Or should one simply not be concerned about factoring it into any fundraising projections?” I went to Dr. Judith E. Nichols for the answer. There’s no one in the country who understands the dynamics of demographic information better than she. Judy is a brilliant platform presenter and the author of some of the most popular books in our field. Her newest is called: Transforming Fundraising — a workbook on strategic assessment. Here’s what Judy says: There’s good reason why the “experts” can’t agree on the actual size of the intergenerational transfer of wealth. No one knows how much will be left by the time the Pre-WWII generations die and pass it on to children and the grandchildren. With an ever-increasing longevity and a more active lifestyle, the elders in our society are leaving less and less to their families. The real issue isn’t how much is going to be left but, rather— is philanthropy going to be a priority for those who inherit. I believe it will be but fundraisers (both volunteers and staff) are going to need to take very different approaches to encourage the baby boomer inheritors to give, especially during their own lifetime.– Jerry Panas |
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