Center on Wealth and Philanthropy
Wealth and the Commonwealth Newsletter      VOLUME 26           March 2012
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Wealth Transfer and the Potential for Philanthropy in North Dakota


Wealth and Philanthropy of Boomers and Post-Boomers

CWP Report:
Capacity for Care: Today, Yesterday, and Tomorrow

Dear Friends and Colleagues:

I hope this newsletter finds you well.  I would like to update you on some research conducted at the Center on Wealth and Philanthropy.

This newsletter contains information on two of our most recent studies that describe thend10 potential for philanthropy in North Dakota and thebb10 wealth and philanthropy of post-boomers.

As always, do not hesitate to contact me regarding any of the research or studies done here at CWP.  Your thoughts and comments are truly appreciated by me and my staff.

Cordially Yours,

Paul G. Schervish

Wealth Transfer and the Potential for Philanthropy in North Dakota
This past November,  John Havens and I completed our study of the North Dakota wealth transfer.  We  used an updated version of our Wealth Transfer Microsimulation Model (WTMM) which will be released during the second quarter of this year by the Impact Foundation, the sponsor of the revised national model and the North Dakota study.  In this study, we found that families in North Dakota will transfer over $300 billion over the next 50  years with a potential for at least
$95 billion dedicated to charity in life time and bequest giving.  This exceptionally positive prospect for the state is fueled in large measure by the booming growth in the agriculture and energy sector.  This economic growth translates into long-term growth in both GDP and household wealth and helped to shield North Dakota from the effects of the great recession.

According to the press release from the Impact Foundation, this wealth growth and wealth transfer present a great opportunity to improve the quality of life for all North Dakotans.  A copy of the executive summary from the Impact Foundation, Endless Possibilities on the Prairie:  Unleashing North Dakota's Great Potential, may be found here.  A full report is available for a fee on the Impact Foundation's website.
Wealth and Philanthropy of Boomers and Post-Boomers 
In February 2012, we were featured in an article in the website of the Association of Fundraising Professionals (AFP) which highlighted the findings in our report, Capacity for Care: Today, Yesterday, and Tomorrow.  This research, sponsored by the AFP Research Fund and Legacy Leaders based in Toronto, found that the present baby-boomer generation in the US in wealthier than any other generation.  Boomers are also in position to receive the greatest wealth transfer in history, and will continue to increase their present wealth.  The Capacity for Care  report shows that there are more boomer millionaires than in any prior generation with 14.8% of boomer households owning at least $1 million in total assets in 2007.  An important and, for some, a surprising finding is the the post-boomer generation is as large as the boomer generation.  It is also wealthier than the boomer generation was when the boomers were the same age as the post-boomers.