By Karl Pratt, Executive Director, Sheridan County Community Foundation Hoxie, Kan. ⸺ Kansas is in the midst of an unprecedented economic shift. A recent study by the Center for Economic Development and Business Research at Wichita State University forecasts that $1.2 trillion will transfer from one generation to the next in Kansas between now and 2070. This creates a once-in-a-lifetime opportunity for rural communities like Sheridan County to capture a small portion of that wealth and secure a more prosperous future. The “Keep 5 in Kansas” initiative, led by the Kansas Association of Community Foundations, encourages individuals to leave just 5% of their estate to their local community foundation. In Sheridan County, this could result in more than $64 million in local charitable assets by 2070—funds that could generate over $3.2 million annually in grant funding for projects that benefit the arts, education, healthcare, economic development, recreation, youth programs, and more. At the heart of this effort is the goal of building permanent endowment funds—funds in which the principal is invested and only a portion of earnings are used to support local needs. By growing our endowments today, we ensure that sustainable, long-term resources are available to meet the evolving needs of Sheridan County forever. Imagine the Possibilities for Sheridan County What could our community look like if every year we had that kind of funding to invest in our people, infrastructure, and future? Would we have vibrant parks and recreation? Safe, affordable childcare? Business development support? Art, culture, and community pride? All of this—and more—is possible when we invest in our own future. The Lasting Power of Endowment: The Story of Dane G. Hansen One of the best examples of the long-term impact of endowment is Dane G. Hansen, a Northwest Kansas businessman who left $12 million through an estate gift to establish a private foundation in 1965. Thanks to careful stewardship and the power of endowment, the Dane G. Hansen Foundation has granted more than $325 million to date and awards approximately $20 million in grants each year—transforming lives and communities across the region. That kind of long-term impact is possible when we give forward. What Is an Estate or Planned Gift? An estate gift (also called a planned gift) is a charitable donation made through your will or estate plan, often designated to benefit a nonprofit or charitable foundation after your lifetime. It’s a way to leave a legacy that reflects your values and supports the community you love. There are many ways to structure a planned gift: • Bequests: The most common form—simply name the Sheridan County Community Foundation in your will. • Beneficiary Designations: Name the Foundation as a beneficiary of your retirement account, life insurance policy, or bank account. • Charitable Trusts: For larger estates, these can provide income to your heirs while benefiting charity in the long run. • Gifts of Appreciated Assets: Stocks, land, or farmland are often ideal to give, offering tax benefits to the estate while maximizing impact. • IRA Qualified Charitable Distributions: If you are 70½ or older, you can make tax-free gifts directly from your IRA. Your planned gift can be used to establish a new grant fund—or multiple funds—that support the causes you cared about during your lifetime, ensuring there are resources available to strengthen and sustain those efforts for generations to come. Why It Matters If your heirs can live well on 95% of your estate, they’ll likely be just as successful without that last 5%. But that 5% could change Sheridan County forever. It could help local students attend college, keep seniors connected to services, revitalize downtowns, or support the next great idea to improve life here. You’ve lived here. Worked here. Raised a family. Built a business. Why not help ensure Sheridan County is a great place to live for generations to come? Expert Estate Planning Support Available at No Cost The Sheridan County Community Foundation is here to help. Whether you’re exploring your first will, updating an estate plan, or just wondering what your options are—we’d love to visit with you confidentially and without obligation. Thanks to the generosity of the Dane G. Hansen Foundation, individuals in the 26-county Hansen region—including Sheridan County—have access to complimentary estate planning support through attorney John Griffin, a specialist in charitable planned giving. Whether you’re creating your first will or trust, or simply wish to review your existing legal documents, John works with individuals and families to design estate plans that reflect their personal goals and philanthropic wishes. He also helps identify tax advantages that may apply based on each person’s unique financial circumstances. There is no cost to meet with John to create a draft plan or review an existing one. Once a plan outline is in place, participants then work with their own attorney—or one can be recommended—to finalize the documents. At that point, any legal fees incurred will be the responsibility of the participant. Before finalizing and signing, John will meet once more with the participant and their attorney to ensure that all documents align with their original intentions. To learn more about planned giving opportunities—including how to leave a gift in your estate or take advantage of free estate planning services through the Hansen Foundation—contact Executive Director Karl Pratt at (785) 677-5090, email
[email protected], or visit www.growsheridancounty.org. Your legacy can make a lasting difference in Sheridan County. SCCF is an affiliate of the Greater Northwest Kansas Community Foundation based in Bird City. The foundation seeks to encourage, prudently manage, and distribute charitable contributions to improve the quality of life of Sheridan County residents, now and in the future. To learn more, contact Pratt at 785-677-5090,
[email protected], or visit www.growsheridancounty.org. Connect with SCCF at www.facebook.com/sheridanccf.
