In 2010, the Kentucky Philanthropy Initiative released "The Transfer of Wealth", a report on how the intergenerational transfer of wealth can inform public initiatives, inspire wealth-building, empower communities, and transform Kentucky. "Over the next 50 years, Kentuckians will likely transfer $707 billion to the next generation. This intergenerational transfer of wealth offers an unprecedented opportunity to create a profound legacy--if we count our communities among our heirs. Imagine what just a 5% legacy investment could do for the long-term economic development and quality of life of our communities.
According to the Report, over the next 10 years, Murray-Calloway County will see a transfer of wealth of $590 million. If just 5% of that wealth--$29 million--is invested in community endowments, that investment would ultimately provide $1.5 million a year--in perpetuity--to identified community development and charitable needs of Murray and Calloway County. Over the next 20 years, with a similar portion of invested wealth transfer, the investment would provide $3.4 million a year--in perpetuity--to the identified community development and charitable needs of Murray and Calloway County.
Welcome to the inaugural Weaver Challenge for Charities! Now until November 30, we encourage you to support 19 participating nonprofits by monetary donations through the Murray-Calloway County Community Foundation. Every dollar donated to each nonprofit's endowment will be matched by the foundation, up to $5,000 for each organization and until we give $60,000 away!!