Our Prosperity Realised
Transfer of wealth & the case for growing regional philanthropy
What is the opportunity?
Australia is set to encounter the largest intergenerational transfer of wealth in history over the next 50 years. This will happen, in part, as baby boomers get older and pass on their assets to loved ones. The huge transfer of wealth presents a major opportunity for rural and regional communities in particular to have a new conversation about how they can unlock these assets for community benefit.
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Into Our Hands Community Foundation is exploring what our futures might look like if more of us were to contribute some of our assets, or wealth, back into local projects to create a lasting local legacy beyond our lifetime.
The transfer of wealth opportunity for North East Victoria
Our Prosperity Realised is Australia’s first wealth transfer report inspired by the progress of community philanthropy in regional parts of the United States. Read the report in full here.
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The Our Prosperity Realised report shows that over the next 50 years, North East Victoria is expected to transfer $17.5 billion to the next generation. What does that mean for your local area?
Wangaratta LGA
More than $7 billion will transfer (40%)
Mansfield LGA
$2.4 billion will transfer (14%)
Indigo LGA
More than $4.5 billion will transfer (26%)
Alpine LGA
Almost $3.5 billion will transfer (20%)
The potential if people give
As locals, if we don’t give to our local charities, then who else will? Have you ever thought what ‘just 5%’ might mean for your community?
5%
If 5% total wealth transferred was donated ...
If 5% total wealth transferred was donated to a community foundation like Into Our Hands, its community chest would grow to $125 million over 10 years
10%
If 10% of households ...
If 10% of households in North East Victoria donated 5% of their wealth to a community foundation like Into Our Hands, the community chest would grow to
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$1.5m in 2 years
$5m in 5 years
$10m in 8 years
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Enough for a new community hall kitchen.
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A new mental health program or community counsellor.
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Funding for local festivals and community events.
$1.5m
fund
= $60,000 in grants per year
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Enough for a new community hall kitchen.
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A new mental health program or community counsellor.
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Funding for local festivals and community events.
$5m
fund
Enough for new hospital equipment for the neonatal unit.
= $200,000 in grants per year
Enough to build capacity and get large projects started, launch new initiatives and support major infrastructure needs.
$10m
fund
= $400,000 in grants per year
Enough to build capacity and get large projects started, launch new initiatives and support major infrastructure needs.
Why are we doing this?
Into Our Hands Community Foundation is looking at different models of community philanthropy and endowment building to find more innovative and inclusive ways for Victorians to take charge of their local community’s future.
We’ve been particularly interested in progress across regional parts of the United States where community giving is growing rapidly through endowment building. The results include positive impacts on economic and community development.
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Community foundations in the US have collated extensive data which provides an evidence based overview of the capacity of local communities to give and the transformative power of this approach.
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One example of the outcomes for recipient communities is in Nebraska. Since its inception in 1994, the Nebraska Community Foundation has re-invested more than $355 million in the region, driving major catalytic change for local communities.
Want to learn more about the transfer of wealth where you live?
Are you a professional advisor looking to start your client’s giving journey?
Together, we can ensure their giving goes further and stays local. Download our free education pack for professional advisors here.
What could you do?
What could you give to your community?
How could you improve your community by taking action?
What would you like to do if you had the tools and resources?
If not you, then who?
How to get started:
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Establish a named/family sub-fund
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Establish a group community or non-profit future fund
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Establish a workplace giving scheme or fund for your own business
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Leave a bequest, either to a fund you establish or to an existing fund
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Make a regular or one-off donation to any one of our existing funds
Want to find out more about what you could do for your community?
For more information on how just 5% can make a big difference in your community, contact us:
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About us
Into Our Hands is a community foundation that believes in North East Victoria’s future and backs communities to do it for themselves. Our volunteers, staff, donors and community leaders work together to build community capacity for good, forever. Since 2012, we have distributed almost $1 million to more than 100 community and non-profit organisations to support community recovery, strength and resilience.
Into Our Hands making news:
