here in comparison to the wealth created . “ The Philanthropic Divide — Assets & Per Capita Granting Update ” by the Big Sky Institute documents how the disparities for in-state assets and per capita grantmaking have significantly increased . For our beloved West Virginia , the 2007 report placed the Mountain State in the bottom 10 states with the fewest foundation assets alongside Alaska , Idaho , Mississippi , Montana , New Hampshire , New Mexico , North Dakota , South Dakota and Vermont .
While this report is from 2007 , it is relevant to note the longtime gap exists and continues between the more philanthropically wealthy or states having more philanthropy per capita than West Virginia . This creates more hurdles and disadvantages to catch up to having the resources our communities and state deserve and desire when compared to our neighbors .
Nearly 15 years later , we know what our potential and baseline can be with the transfer of wealth assessments . Engaging this money with new foundations and funds will keep the wealth local . If the collective $ 1.5 billion in new endowments is engaged , the estimated 5 %, or $ 75 million , per year for grantmaking will go toward numerous charities , community development and community projects that will strengthen opportunities for West Virginians and the state itself . Statistically , the $ 75 million will more than double the current annual collective grantmaking of West Virginia ’ s existing foundation community . The overall impact per decade would be nearly $ 1 billion in new investments .
In other words , the state is at the tipping point of a new golden age in philanthropy if its people will work together . That
is why now is our state ’ s defining moment , which positions us for a compelling future with a stronger philanthropic sector and stronger communities , workforce and economy . As a citizenry , we need to ensure locally created wealth can stay local and grow . We need to know our communities have the philanthropic capital that provides for launching new opportunities , recovering fully from natural and health disasters — as we have learned over the past year and a half — and fueling a future that local citizens envision .
Build a Fund . Build a Community .
Let the Greater Kanawha Valley Foundation make your giving easy and impactful .
Michelle Foster , Ph . D ., President and CEO Kristin Mounts , CPA , CFO
P . O . Box 3041 Charleston , WV 25331 p : 304.346.3620
tgkvf . org
Congratulations ,
Rick , on being named to the Lawyers & Leaders Class of 2021 !
From your staff and associates at
Pill & Pill , PLLC
Proud member of the American Land Title Association
85 Aikens Center , Edwin Miller Boulevard Martinsburg , WV 25404 304- 263-4971 | pill @ pillwvlaw . com
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