Wyoming Community Foundation (WYCF) is advancing planned giving across the state through their 5 to Thrive campaign, a regional giving initiative that encourages people to reinvest in their communities by leaving 5% of their estate to philanthropic and nonprofit organizations. Kathleen Chick, WYCF’s director of communications, believes the campaign can make significant impact but that impact will be measured by the level of community involvement. “Right now, in Wyoming, there’s an estimated $24 billion of wealth that will transfer from one generation to the next between now and 2034, so in the next ten years we want to reach communities and have people imagine what might be possible if just 5% of that wealth was reinvested in your community over the next decade.”
About 20 years ago, the foundation published its first transfer of wealth report with the help of Boston College and the Nebraska Community Foundation. Hoping to do something different, WYCF has spent the last several years developing planned giving resources for donors, nonprofits and professional advisors. "5 to Thrive is a slow burn. It’s going to take time and the more we get in front of community the more resources like our toolkit can be used to help,” says Kathleen. “The toolkit is evolving. As we continue learning, we’ll keep updating the kit to ensure it’s as accurate as possible for those interested in getting what they can from it. So far, the reaction to this initiative and resources like the toolkit has been really positive. Our agency funds and staff have really dived into it to better understand how this initiative can positively impact Wyoming.”
In 2023, WYCF partnered with a local college to complete another transfer of wealth report that revealed the lost giving potential. “We did a transfer of wealth report, and from there we used that data to start the 5 to Thrive initiative. And part of what we’ve been doing is developing materials, resources and tools for nonprofits and for people to feel empowered about their own planned giving,” Kathleen says.
“Donors can create a fund with WYCF leaving just 5% of their estate to go to causes they care about, but really, we just want them to be able to give it to what matters to them. We provide those tools for donors or professional advisors to do that. We reference the Permanent Mineral Trust Fund in our report because it helps to make endowments feel familiar. It’s something Wyoming has benefited from. Endowments can be hard to explain sometimes, so we used that fund as a real example that worked. The Trust Fund took a one-time resource and turned it into long-term support for the state, while protecting and growing the principal over time. 5 to Thrive builds on that same idea, but at a community level —helping individuals turn their own resources into something that continues to give back year after year.”
Donors can create a fund with WYCF leaving just 5% of their estate to go to causes they care about, but really, we just want them to be able to give it to what matters to them.
Kathleen
Wyoming Community Foundation’s 5 to Thrive Initiative builds on a long history of giving in the state and encourages intentional resource sharing among Wyoming’s philanthropic community. “If someone is curious, I’d tell them to visit our website and learn more about it, start talking to people about charitable giving and learn more about what causes they care about. Every gift matters, so getting people to see themselves as able is important.”
Wyoming Community Foundation’s toolkit and other planned giving resources can be found on the foundation’s website.
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