COMMUNITY FOUNDATION OF COLLIER COUNTY

BOSTON COLLEGE STUDY
In 1999, Boston
College researchers projected $41 Trillion would shift from one generation to the next before 2052
Source: Millionaires and the Millennium: New Estimates of the
Forthcoming Wealth Transfer and the Prospects for a Golden
Age of Philanthropy

PHENOMENON IS
COMMONLY
KNOWN AS THE
TRANSFER OF
WEALTH

ORGANIZATIONS FUNDING THE
2012 FLORIDA TOW STUDY
COMMISSIONED BY THE FLORIDA PHILANTHROPIC NETWORK
▪
Community Foundation of Collier County
▪
Community Foundation of Broward
▪ Community Foundation of Central Florida
▪ The Community Foundation of Sarasota County
▪
Community Foundation of Tampa Bay
▪
The Community Foundation of Northeast Florida
▪ Community Foundation for Palm Beach & Martin Counties
▪ Edyth Bush Charitable Foundation
▪
Gulf Coast Community Foundation
▪
The Miami Foundation
▪ Southwest Florida Community Foundation

WHAT DOES
THE
TRANSFER OF
WEALTH MEAN
FOR FLORIDA
AND COLLIER
COUNTY?

CONTRIBUTING FACTORS

TRANSFER OF WEALTH
CONTRIBUTING FACTORS
▪ POPULATION
▪ CURRENT NET
WORTH/INCOME
▪ AGE
▪ GROWTH

Study assumes
Florida will receive a share of the $41 Trillion wealth transfer proportionate to its population

INCOME
COLLIER
COUNTY
FLORIDA
UNITED
STATES
MEDIAN
HOUSEHOLD
INCOME
2007-2011
$56,876 $47,827 $27,915

AGE
Under 18
18 - 64
65+
COLLIER
COUNTY
19%
54%
26%
FLORIDA
21%
61%
17%
UNITED
STATES
24%
63%
13%

Communities that grow are more likely to have new wealth created

TRANSFER OF WEALTH

FLORIDA
Current Net Worth
$1.4 Trillion
Average CNW per
Household
$194,000
Average 10 year
Wealth Transfer per
Household
$43,000

IN FLORIDA,
OF THE
$1.4 TRILLION
IT IS
EXPECTED
MORE THAN
$322 BILLION
WILL CHANGE
HANDS BY
2020

GOLDEN OPPORTUNITY

IN FLORIDA,
IF 5% OF
$322 BILLION
IS CAPTURED TO
CHARITABLE
ENDOWMENTS
MORE THAN
$16 BILLION
WOULD BE
COLLECTED
OVER 10 YEARS

IN FLORIDA,
IF $16 BILLION IS
ENDOWED,
$806 MILLION
WOULD BE
AVAILABLE EACH
YEAR FOR
COMMUNITY
IMPROVEMENTS
FOREVER

TRANSFER OF WEALTH

COLLIER COUNTY
Current Net Worth
$52 Billion
Average CNW per
Household
$393,200
Average 10 year
Wealth Transfer per
Household
$110,400

IN COLLIER
COUNTY,
OF THE
$52 BILLION
IT IS EXPECTED
$14.7 BILLION
WILL CHANGE
HANDS BY 2020

GOLDEN OPPORTUNITY

IN COLLIER
COUNTY,
5% OF
$14.7 BILLION
WOULD
TRANSLATE
INTO
$734 MILLION
FOR CHARITY
OVER THE
NEXT 10 YEARS

IN COLLIER
COUNTY,
IF $734 MILLION
IS ENDOWED,
$34 MILLION
WOULD BE
AVAILABLE EACH
YEAR FOR
COMMUNITY
IMPROVEMENTS
FOREVER

THIS IS OUR BEST CHANCE TO
STRENGTHEN COMMUNITIES FOR
FUTURE GENERATIONS

COLLIER COUNTY NEEDS
Even though we live in an area with great wealth, there is great need.
CFCC developed Vital Signs to track these needs and the success of our grantmaking.
▪ BASIC NEEDS
▪ COMMUNITY, ARTS &
ENVIRONMENT
▪
EDUCATION & TRAINING
▪ HEALTHCARE SERVICES
▪ WOMEN & GIRLS

SOME STATS TO CONSIDER

BASIC NEEDS:
31% OF
CHILDREN
UNDER THE
AGE OF 18 ARE
LIVING AT OR
BELOW THE
POVERTY
LEVEL IN
COLLIER
COUNTY
COMPARED TO
25%
STATEWIDE

WOMEN &
GIRLS:
THE TEEN
BIRTH RATE
PER 1000
GIRLS AGE 15-
19 IN COLLIER
COUNTY IS
48 VS 40
STATEWIDE

EDUCATION &
TRAINING:
49% OF
COLLIER
COUNTY
STUDENTS
LIVE IN
NON-ENGLISH
SPEAKING
HOMES

HEALTHCARE:
24% OF
COLLIER
COUNTY
RESIDENTS DO
NOT CARRY
HEALTH
INSURANCE
COMPARED TO
21% STATEWIDE

COMMUNITY, ARTS
& ENVIRONMENT:
LOCAL ARTS AND
CULTURAL
INSTITUTIONS
REACH 1,000,000
VISITORS EACH
YEAR, AND
“CULTURAL
TOURISTS” SPEND
MORE MONEY PER
DAY WHEN THEY
VISIT

NOW CONSIDER
Only 1.3% of Collier
County Government
Budget goes towards Human
Services.
Compared to 9.1% state average.
Therefore significant needs fall on each community.

LET’S START THE CONVERSATION

STORY OF ORD, NEBRASKA
▪ Located in Valley
County, Nebraska
▪ Population 2,200
▪ Small town challenges: school-funding cuts, declining home values, methamphetamine problems

STORY OF ORD, NEBRASKA
▪ $600 Million wealth transfer projected
▪ $1.2 Million bequest
(1999)
▪ County affiliate fund started
▪ 5 large gifts, including
$1.5 million from a farmer
▪ Surpassed 5% goal, setting new goal

COME HOME
TO ORD,
NEBRASKA
Marketing campaign and new website to attract past, present and new residents

GIVING USA REPORT
Overall, US donations to bolster the arts, health, religion and other services totaled
$316.2 Billion in 2012.
That’s a 3.5% increase from
$305.5 Billion in 2011.
That was just 1.5% increase when adjusted for inflation.

LET’S TAP THE
CHARITABLE
GENE AND
SPIRITUAL
CONVICTIONS
OF OUR
COLLIER
COUNTY
RESIDENTS
Let’s start the conversation

LET’S START THE CONVERSATION
6-10% of individuals include a nonprofit organization in their wills or estate plans

LET’S START THE CONVERSATION
▪ Professional Advisors talk with clients about charitable giving
▪ Nonprofits talk with supporters
▪ Residents count this community among their heirs

LET’S START THE CONVERSATION
80% of donors expect advisors to bring up charitable giving
Who Actually Does?
▪ 5.7% CPA’s
▪ 8.0% Wealth Advisors
▪ 6.3% Attorneys
▪ 15.5% Nonprofits

CHARITABLE
INVESTMENTS
CAN BE MADE
NOW OR
THROUGH
YOUR WILL
Consider 5%,
10%, or more

WE HAVE THE
OPPORTUNITY
TO TURN
GOOD
COMMUNITIES
INTO GREAT
COMMUNITIES
THAT WILL
SURVIVE AND
THRIVE
Let’s start the conversation

WHAT DOES THIS COMMUNITY
MEAN TO YOU?

BUSINESS

WHETHER THIS IS YOUR
HOMETOWN OR THE PLACE YOU
NOW CALL HOME
YOU HAVE A LOT INVESTED HERE

Eileen Connolly-Keesler
President/CEO
Community Foundation of
Collier County
239-649-5000 ekeesler@cfcollier.org
www.cfcollier.org