The 90% Problem: Cultivating Major Gifts by Preserving Family Wealth
Presenter:
Damon King, Certified Financial Planner, ChappelWood Financial Services, and Y Alum
The 90% Problem - Cultivating Major Gifts by Preserving Family Wealth
Presenter: Damon King, CFP® and Y Alum
Certified Financial Planner™ professional and Investment Advisor, ChappelWood Financial Services
The Great Wealth Transfer will see $59 trillion in accumulated wealth pass to children and grandchildren by 2061, representing a tremendous opportunity for nonprofit organizations. Yet, 90% of wealthy families will see their wealth ‒ along with their support of cherished charitable causes like the Y ‒ disappear within three generations. The reason is simple: talking about money remains taboo in most families. By introducing the Legacy Portrait to your donors and members, you can help families identify and communicate a set of shared values and increase the odds of preserving their wealth. In turn, your Y will develop deeper donor relationships and strengthen your ability to solicit and receive transformational major gifts across multiple generations.
