|(MARCH 5, 2013) RURAL DEVELOPMENT FUNDS STATEWIDE TRANSFER OF WEALTH STUDY|
|St. Joseph, MO, Mar 05, 2013
@@Rural Development State Director Anita J. (Janie) Dunning today announced a Rural Business Opportunity Grant (RBOG) award of $32,500 to Community Foundation of Northwest Missouri, Inc. These funds will be used to contract with a consultant, Center for Rural Entrepreneurship, to produce a Transfer of Wealth (TOW) Study for all 115 counties in Missouri.
"All across the country, communities are experiencing the loss of resources. This loss is not only of government funds, but the decline in the presence of local resources to match federal dollars. Transfer of wealth studies attempt to identify untapped resources,” Dunning said. “Rural Development is well aware of the need of communities and organizations to locate new funding sources that is why the study funded for the Community Foundation of Northwest Missouri is critical to future projects’ success."
Community Foundation of Northwest Missouri was established in 2009 as a public charity with a 501(c)3 designation which allows donors maximum tax advantages while supporting their favorite charities. The service area includes 18 counties in Northwest Missouri. Community Foundation of Northwest Missouri encourages charitable and philanthropic giving as a means to support and strengthen communities and the organizations within those communities. The foundation manages six types of funds; Donor Advised, Field of Interest, Scholarships, Organizational, Undesignated, and Designated. A portfolio in excess of $14 million with 74 funds is managed by the Community Foundation of Northwest Missouri, Inc.
Mary Hinde, President/CEO, said, “The Community Foundation of Northwest Missouri, Inc. has joined with the other nine community foundations in Missouri to partner with USDA knowing the collaborative effort will advance the sustainability and vitality of our shared Midwest region. It is only through strategic planning in the private sector, (like the TOW analysis), partnering with federal organizations, and global competiveness can we achieve our potential in Missouri.”
The Community Foundation of Northwest Missouri is serving as the recipient of the RBOG on behalf of other Missouri foundations. Foundations from around the state are actively involved in the transfer of wealth study by serving on regional advisory committees and providing matching funds.
A transfer of wealth study’s goal is to identify household estate wealth within communities. In addition, the study establishes an estimate of the amount of that wealth to be transferred from the current generation to the next. This estimate will be used by foundations and other organizations in an attempt to capture and maintain the wealth in the communities for the benefit of generations to come. Sustaining wealth through charitable giving and philanthropic efforts is a key component in community and economic development. Foundations have a significant role to play in achieving protecting a community’s resources.
Anyone seeking more information about Rural Business Opportunity Grants or any other USDA Rural Development program may visit the Missouri Rural Development homepage at http://www.rurdev.usda.gov/mo or may contact the St. Joseph Area Office at (816) 364-3767 Extension 4.
For other examples of USDA investments in rural communities, please visit Rural Development's new interactive web map at http://www.rurdev.usda.gov/RDSuccessStories.html. The map features program funding and success stories for fiscal years 2009-2011.
President Obama's plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President's leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America's economy, small towns and rural communities. USDA's investments in rural communities support the rural way of life that stands as the backbone of our American values. President Obama and Agriculture Secretary Tom Vilsack are committed to a smarter use of Federal resources to foster sustainable economic prosperity and ensure the government is a strong partner for businesses, entrepreneurs and working families in rural communities.
USDA, through its Rural Development mission area, has an active portfolio of more than $181 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.
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