Springfield public radio station KSMU’s bi-monthly “Making a Difference” segment focused on the recent Transfer of Wealth study commissioned by the Alliance of Missouri Community Foundations, an organization that includes the Community Foundation of the Ozarks and its 44 affiliates across southern Missouri.
Over the next 10 years, more than $134 billion will be passed from Missourians to their hers, $47.2 billion of that in the Ozarks. KSMU reporter Mike Smith interviewed CFO President Brian Fogle, who shared the importance of what the CFO and the AMCF are calling the “5 Percent Solution,” which encourages those members of the Greatest Generation and Baby Boom who have generated that wealth to leave five percent of their estates to their communities or local foundations, or risk it leaving the area forever. That five percent total for Springfield-Greene County alone is $332 million, which when endowed and allowed to accrue interest adds up to what Fogle calls “transformative” change. The CFO is touring southern Missouri this fall, sharing similar statistics for individual counties across the CFO’s affiliate region. The transfer numbers for the next 50 years are even more staggering.
You can listen to the whole story here. Thanks to Mike Smith, KSMU, the Alliance of Missouri Community Foundations and the USDA for making this story, and this study, possible.