The Wyoming Community Foundation (WYCF) has introduced the “5 to Thrive” initiative, a program aimed at encouraging Wyoming residents to leave 5% of their wealth to local communities as part of their estate planning, Oil City News reports.
The initiative comes on the heels of the WYCF’s newly released “Transfer of Wealth Report,” prepared in collaboration with the Center for Business and Economic Analysis at Laramie County Community College.
The report highlights the significant financial potential within Wyoming, projecting that an estimated $24 billion will transfer between generations in the state over the next decade. In the longer term, $210 billion is expected to change hands over the next 50 years. According to Samin Dadelahi, WYCF’s president and CEO, this generational shift presents a unique opportunity to invest in Wyoming’s future.
“This report emphasizes the immense potential we have to strengthen Wyoming’s communities,” Dadelahi stated. “Imagine what might be possible if just 5% of that wealth — more than $1 billion — was reinvested in Wyoming communities. Through charitable giving, 5% of your estate could help transform senior centers, preschools, libraries, pathways, outdoor spaces, wildlife, museums, 4-H, higher education, animal shelters, and community beautification — or whatever you care about.”
The “Transfer of Wealth Report” underscores three main insights about Wyoming’s financial landscape:
- Wyoming households currently hold more than $173 billion in wealth.
- Over the next 10 years, $24 billion in wealth is expected to be transferred between generations.
- By 2075, a total of $210 billion will have transferred within the state.
The next decade is especially critical, particularly for rural communities, where inherited wealth often leaves the region when passed down. The report emphasizes that retaining even a fraction of this wealth could have a lasting impact on Wyoming’s infrastructure, quality of life, and community services.
The “5 to Thrive” initiative is designed to encourage residents to allocate 5% of their estate to local nonprofits and community organizations, ensuring these funds remain within Wyoming. The program also provides resources to make this process easier and more accessible. These include:
- Estimated transfer-of-wealth data for each county.
- Will-planning templates and tools for charitable giving.
- Statewide educational events and presentations to raise awareness about the importance of planned giving.
By directing just a small portion of their assets to charitable causes, residents can help create permanent, invested funds that support local initiatives.
“Once wealth leaves our communities, this opportunity leaves with it,” the release noted. “The Wyoming Community Foundation’s initiative is focused on keeping that wealth in the state to help communities thrive.”
The WYCF hopes to inspire a culture of giving across Wyoming.
“Build a culture of philanthropy in Wyoming by leaving 95% of your wealth to those you love, and 5% to your community,” the foundation urged.
WYCF staff are available to assist residents in planning their gifts and encourage individuals to connect with their favorite nonprofits to explore legacy giving options.
Whether directed to an educational institution, a community fund, or a specific cause, the initiative positions charitable giving as a way for residents to leave a meaningful impact on their communities for generations to come. By reinvesting wealth locally, Wyomingites can help create vibrant, sustainable communities that benefit from improved public spaces, stronger education, and enhanced cultural resources.
The full “Transfer of Wealth Report” and additional resources for estate planning and charitable giving are available on WYCF’s website. For residents interested in learning more, the WYCF is hosting informational events and encouraging discussions about the importance of philanthropy in building Wyoming’s future.
