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Legacy Giving - Transfer of Wealth - Ocala Florida
Since 1970, Florida's rapid growth has benerated enormous individual wealth. Even after the Great Recession, the net worth of Florida households exceeded $1.4 trillion - about $138,500 per household in Marion County.
Florida Philanthropic Network, in partnership with its 25 Community Foundation members, commissioned a study by the Center for Rural Entrep-reneurship to understand what might happen to this wealth as Baby Boomers begin to retire and pass their assets on to the next generation.
That study showed that this "transfer of wealth" in Florida would total about $322 billion in the next 10 years...$5.19 billion in Marion County alone.
If philanthropy in Florida could capture just 5% of that transfer and place it in permanent endowments to benefit Florida's communities, those endowments would generate $806 million a year - every year - statewide, or nearly $13 million a year here in Ocala/Marion County.
That generosity of spirit has been a hallmark of giving in Ocala/Marion County. The opportunity to enhance and sustain this caring spirit lies with legacy giving. And the statistics support this premise. The Chronicle of Philanthropy "How America Gives" study captures charitable giving state by state and by cities and counties within each state. Click here for both the Florida and Marion County demographics.
IMAGINE THE IMPACT
Our opportunity to create this
transformational legacy is now...its benefits will last forever...
if we Endow Florida's Future...
Documents Attached to Legacy Giving - Transfer of Wealth: