Connections Summer 2010
www.nebcommfound.org
Generations of Wealth at Work In 2002 NCF completed its county-by-county analysis of Nebraska’s intergenerational transfer of wealth. The numbers were shocking–$94 billion will transfer in rural Nebraska alone. The peak years of wealth transfer are on the near horizon— 20, 10, 5 years from now. Much of the wealth–in land, securities and other assets–is being passed to heirs who no longer live in the communities where it was accumulated over generations. NCF alerts rural leaders to the economic impact that the intergenerational wealth transfer will
have on their communities. We teach people how to use the data as evidence for building community endowments. We ask our friends and neighbors to consider their community as another child. In this way, charitable giving becomes a tool for community development. Today, more than $46 million has been endowed and confirmed in planned gifts. These assets will help sustain the hometowns where the wealth was made for generations to come.
A LOOK INSIDE... NCF BOARD IMPRESSED BY HOMETOWN TOURS Local affiliated fund leaders and community volunteers roll out the red carpet for NCF Board members to showcase community pride and hometown values.
County-Based Transfer of Wealth Analysis Peak of Transfer Group 1 – 2000 to 2014 Group 2 – 2015 to 2039 Group 3 – 2040 and after
NCF Board member Judith Scherer Connealy visits with community members during a reception and dinner in Bruning, held in conjunction with NCF’s quarterly Board meeting in Shickley. Full article on page 3
By working in partnership with generous donors and their financial advisors, NCF is helping rural communities secure the resources they need to remain or become prosperous in the future.
In recent months NCF has helped to arrange more than $3 million in gifts to Nebraska’s hometowns. We are honored to serve these generous donors and their financial advisors.
The Kreutz Bennett Donor-Advised Fund – An estate gift of $615,000 will provide matching grants for infrastructure and operations of public libraries in Nebraska communities with a population of less than 3,000. Established by Shirley Kreutz Bennett of Lincoln, the trust funded a term endowment to be spent down within 21 years. The Dr. Delwyn and Norma Nagengast Scholarship Fund – A gift of $512,000 in the form of a beneficiary designation of a portion of Dr. Nagengast’s retirement plan will provide scholarships to students of Bloomfield Community Schools. Leona Ihde Donor-Advised Fund – A bequest of $1.8 million will benefit communities in Nebraska for generations to come. Leona Ihde was a longtime employee of Nestle Purina Pet Care Company in Crete. Rolland and Irene Ramsthel Scholarship Account – Upon his death, Mr. Ramsthel’s estate added $107,000 to an existing endowment within the Burwell Community Fund to provide nursing scholarships to students in the area. The scholarship account now totals more than $300,000. Lloyd and Naomi Geweke – Mr. and Mrs. Geweke provided a gift of real estate in Arizona that netted $286,000 upon its sale. The gift will benefit community health services, youth engagement and entrepreneurship programs, the United Methodist Church and the volunteer fire department in Valley County.
WEALTHSPRING FUND SEEKS AFFILIATED FUND PARtNERS The WealthSpring Fund Advisory Committee is hoping to collaborate with other NCF affiliated funds in identifying and supporting programs that advance women’s economic stability and self-sufficiency. Full article on page 5
NCF HONORS LONGTIME FRIENDS AND SUPPORTERS Frank and Shirley Sibert continue their support and service to NCF. Their latest demonstration of commitment comes in the form of generous gifts to help meet the Ford Foundation Challenge to raise $3 million from Nebraska-connected donors. Full article on page 6
MAJOR GIFTS TO EXETER AND NCF Richard and Louisa Manning have made a challenge grant to their alma mater community of Exeter and a significant gift to the NCF endowment. Full article on page 7