On the average, Iowans transfer $4.9 billion dollars of wealth each year, of which, Hamilton County residents account for $40.3 million.
In Hamilton County, on average, approximately $312,000 is transferred per estate with approximately 129 probated estates annually.
If 5% of wealth was gifted in Hamilton County that would account for $2 million. It would only take, on average, 7 estates per year to equal the 5% wealth transfer.
If more folks would would consider leaving just a small percentage of their estates to charity, think what a difference it would make throughout Hamilton County.
If we could put $1 million of the projected $2 million in wealth transfer into an endowment fund, we would generate approximately $50,000 (based off 5% distribution of earnings) that could be put back into communities throughout Hamilton County to enhance arts and culture, community development and entrepreneurship, education and youth, environment and historic preservation and/or health and human services.
Endowed funds last forever and grow over time because the principal is never spent. Earnings are used to make grants in the name of each fund, supporting charitable causes and creating personal legacies of giving throughout Hamilton County.
For more detailed information on the transfer of wealth in Hamilton County, click here.