Edelman, Mark; Burke, Sandra Charvat

Community Development Vol. 38 no. 2 (Summer 2007)

In recent years, many community development practitioners have become interested in exploring trends in intergenerational transfer of wealth and philanthropic mechanisms to sustain community vitality and quality of life. Iowa is among the states that have recently developed statewide initiatives to stimulate local philanthropy. Iowaﾒs initiatives include wealth transfer research, state incentives, educational activities, and network development efforts. The wealth transfer study carried out for Iowa and its counties found that nearly $5 billion of wealth is transferred annually in the state. More than $530 billion is projected to transfer during the period of 2000 to 2049. This article provides an overview of Iowaﾒs wealth transfer research and philanthropy development efforts to provide instructive examples and lessons learned for community development practitioners across the nation. Enhancing community foundations and cultivating a culture that generates bequests, endowments, and end-of-life contributions can enhance resources available for development and charitable purposes.

JEL Classification: L30

Keywords: community foundations endowments estate planning philanthropy wealth transfer