Most people would agree that living in Iowa has improved the quality of their life. This is largely due to the people and services of thousands of charitable, community and cultural organizations. These organizations play an important role by extending help, support and quality of life to residents in and around Iowa
Over 70% of households nationwide contribute to charity each year, however, when surveyed, less than 6% indicate that they are planning a charitable bequest in their will or estate plan. The number one reason is that they were never asked. Research estimates that older Americans will transfer between $40-100 trillion of net worth to the baby boomer generation by the year 2040an historic intergenerational wealth transfer. The IRS tells us that charity is receiving a decreasing share in estates, from 21.8% in 1976 to 6.3% in 1992. In 1996, 82% of estates of deceased in excess of $600,000 left nothing to charities, leaving a large percentage to government in the form of taxes. As charities struggle with the continuing loss of public dollars and government cutbacks, it is imperative that we develop a way to reach the general public with the message that, “there has never been a better time to give back to the community a portion of that accumulated wealth.”
Leave A Legacy is a state wide initiative sponsored by a coalition of community-based programs throughout the state. It is an ongoing educational campaign to encourage residents of Iowa and bordering communities to plan estate gifts to community organizations in their will or other estate planning instruments. It is a program designed to increase the sense of responsibility among the citizens of Iowa that helps ensure their quality of life as well as the quality of life for those they leave behind. The goal of Leave a Legacy is to increase the number and amount of charitable estate gifts that benefit community organizations in Iowa and bordering communities. Waterloo Center for the Arts is a participating organization in this Leave a Legacy campaign. Call the Center at 291-4490 for additional information.
Also, visit the Leave a Legacy of Iowa website.