There’s no doubt this past year was challenging, but in spite of hardship, people from every corner of our region showed the true spirit of who we are, and generously gave to support our local communities.
Local philanthropy continues to be hard at work making a difference for the people who call Knox and Warren Counties home.
As we continually witness the impact of local philanthropy, it’s also important for us to consider ways to prepare our communities for future challenges, like how we can benefit our community in the long-term by passing down our wealth to the place we call home. After all, making your community your heir is an incredible way to make a difference for generations to come.
When wealth transfers from one generation to the next, it’s known as the “Transfer of Wealth.” Over the next 10 years, $2.2 billion will transfer generations in our region. Over the next 50 years, that number will rise to $12.9 billion. Where that money goes is up to us, meaning collectively we have an incredible opportunity to have conversations with our neighbors about the ways in which their hard-earned dollars can be used to support the community they proudly call home.
When people think of “giving back,” they often think in terms of their own family. It’s natural and important to want to give back to our loved ones. However, the beauty of giving back is that it has no limitations, and anyone can make the community they love their heir. In fact, giving back to your community ensures that the money you earned here stays here. If we each take a moment to consider how we might leverage the wealth that will be transferring from our area, we can make incredible strides that sustain our hometowns—and the causes we care most about—forever.
I’m fortunate that I frequently see our community’s generosity come to life. Individual donors from within our community are making a difference every day— just like Peg Bivens, who made a planned gift to the Knoxville Community Fund at Galesburg Community Foundation. Peg’s generosity and forward-thinking, will benefit a cause close to her heart and make a difference in our region forever. Peg’s gift is yet one more example of community members giving back to their community. Philanthropy is making a difference in other ways as well. Our recent partnership with River Bend Food Bank to establish the Galesburg Branch is a partnership that will serve as a major step toward combatting food insecurity across our region. This effort is possible thanks to contributions from people like you to our Community Impact Fund.
I continue to be proud of what we’re accomplishing, and the many ways we keep growing. With every interaction I have, I am reminded of the importance of human connection, and of working together toward our common goal—to serve our region in the best, most philanthropic ways.
Joshua D. Gibb / President and CEO