5% SOLUTION

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5% SOLUTION

A relatively small donation can make a big difference

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The Dane G. Hansen Foundation’s Betsy Wearing presented some impressive numbers at the recent annual meeting of the Smoky Hill Development Corporation.

Here’s a sample, based on research from the Kansas Association of Community Foundations:

• Between 2020 and 2029, Ellsworth County will see an estimated $223 million in wealth transfer from one generation to the next. If only 5 percent of that can be captured for community use through gifts, organizations and projects across the county would benefit from a $559,000 payout.

• Between 2030 and 2039, the transfer is expected to amount to $250 million. Again, a 5 percent capture of $12 million equals a payout of $625,364.

And so it goes — until 2050 to 2059 — when the transfers begin to decline. Even then, the numbers are significant.

The alternative in too many cases is to wave goodbye to the wealth earned here as the next generation leaves their hometowns for their new lives in Salina or Kansas City.

The Smoky Hills Charitable Foundation, which partners with the Dane Hansen organization, is Ellsworth County’s biggest buffer against wealth transfer. For almost two decades, the local foundation has given residents a place to invest in Ellsworth County. The dollars they contribute are placed in Smoky Hills funds to grow and generate income.

The local foundation recently distributed grants, including $1,700 to the Ellsworth County Historical Society to pay for the lining of several closets with cedar for the preservation of period clothing, needlework and other fabric artifacts that have been donated to the Hodgden House Museum complex over the years.

Another grant went to the Kiwanis Club for the spray pad in Preisker Park the city plans to open this summer.

“Our communities need to plan for near and longterm needs,” Wearing, who serves as coordinator of programs, communications, and new initiative for the Logan-based Hansen Foundation, told the development corporation audience.

“I want to talk about what we need to do today for tomorrow.”

It’s simple. Still leave the bulk of your estate to the kids and grandkids, but give back 5 percent to your community. It can make a huge difference.

Editor’s Note — For more information on the Smoky Hills Charitable Foundation, go to www.smokyhillscf.org