CFO Celebrates National Community Foundations Week

We’re proud to join with some 750 other U.S. community foundations in marking National Community Foundations Week Nov. 12-18.

Galanes, GloriaOur Board Chair, Dr. Gloria Galanes, had a column published in the News-Leader today discussing the increasing impact that philanthropy could have on society during the huge intergenerational transfer of wealth coming up in the next 10-50 years.

The CFO partnered with other Missouri community foundations to commission a statewide transfer of wealth study; as the result, the Alliance of Missouri Community Foundations is advocating “The 5% Solution,” which encourages people to consider leaving 5 percent of their estates to their charitable and community interests. The results could be game changing – in the Ozarks alone, that could capture $2.3 billion (with a “b”) over the next 10 years alone. At an average 5 percent payout, that would mean an additional $118 million a year to address charitable needs and interests.