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"We are seeing the largest transfer of wealth in the history of the world," says Keven Dietrich, director of donor relations for the Willmar Area Community Foundation. "And that is happening right here as well."
That's because more than 2,000 farmers in Minnesota's Kandiyohi County will be retiring over the next few years, leaving behind an estimated $7.5 million worth of farm assets, reports the West Central Tribune.
The foundation, a charitable nonprofit that grants money to various community causes, wants to help farmers prepare legacy plans that include the community in which they lived and worked for decades.
"As people with charitable mindsets pass, it will be harder and harder for local nonprofits to make ends meet if people aren't thinking strategically about lasting legacy gifts," says Sara Carlson, executive director of the foundation.
The foundation is working with farmers and their financial teams to come up with a plan, and it's already worked with one farmer who wanted to sell his combine and donate the proceeds to a donor-advised fund.
Another option is to donate land, notes Carlson.
"It is just like a cash gift, actually, and it is something that is real value to our producers that they can use," she says.
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
Foundation: Ford Motor Company Fund
The Ford Motor Company's philanthropic arm is getting a new name: Ford Philanthropy. The rebranding reflects Ford's 75-year legacy of "driving impact in Ford communities around the world," says...more
If you're a teen in Lenawee County, Mich., and you love giving back to your community, you may want to consider becoming a member of the Lenawee YOUTH Council. The council, a program of the...more
Foundation: Whitefish Community Foundation
"But wait. We're not done yet." That was the message from Lois Davis, CEO of the Whitefish Community Foundation, as it handed out $520,300 in grants to 68 nonprofit organizations in the...more
It's that time of year again: time for investors to look back at the last presidential election and see if there's any correlation between it and the performance of the stock market. A Bloomberg...more
Foundation: Kellogg Foundation
For more than 30 years,Henrie Treadwell has been fighting for racial equity at the University of South Carolina, where she became the school's first black graduate since Reconstruction, the...more
If you're an employer looking to attract the next generation of workers, Entrepreneur has some advice: Get to know Gen Z. The list is based on a recent study of 11,495 high school students,...more
May is Asian American, Native Hawaiian, and Pacific Islander (AANHPI) Heritage Month, and all the major broadcast news networks are getting in on the fun. ABC News, for instance, will feature an...more
When Sharon Kotsonas moved from Puerto Rico to Gilbert, Ariz., 20 years ago, she didn't think much of the culture. "I was 19 when I moved," she tells the Gilbert Independent. "And then from...more
For nearly a decade, UNICEF has been working with women in the Ivory Coast to turn their plastic waste into bricks that can be used to build new schools. Now, the charity says, 383 classrooms...more
The UN's International Fund for Agricultural Development (IFAD) and the European Institute of Innovation for Sustainability (EIIS) are holding a summit in Rome this week to discuss how innovation...more
Civic Engagement News from...
Whitefish Community Foundation
Kellogg Foundation
Pew Charitable Trusts
William Penn Foundation
Ball Brothers Foundation
Silicon Valley Community Foundation
California Endowment
California Community Foundation
Marguerite Casey Foundation
Rockefeller Philanthropy Advisors
Skoll Foundation
Target Foundation
Ford Foundation
Philadelphia Foundation
Rockefeller Foundation
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