Our Prosperity Realised – Transfer of Wealth
Into Our Hands Community Foundation and Seer Data & Analytics – building the dream from the data
This report has been prepared by Into Our Hands Community Foundation and Seer Data & Analytics, with support from the Foundation for Rural and Regional Renewal (FRRR) and the June Canavan Foundation. It estimates, in 5-year intervals from 2016–2066, household wealth transfer in north-east Victoria by age, gender, household type and locality.
This detailed information demonstrates the potential for community asset building over time if a proportion of the population were to allocate a percentage of that wealth to community foundations for community-building grant making and disbursement purposes. The report also presents estimates of local business and industry turnover, recognising that this broad and diverse sector can become a significant contributor to regional community philanthropy in north-east Victoria.
This report represents the first phase of the roll out of this ambitious and potentially transformational initiative in north-east Victoria. The second phase of this initiative will involve the application of the data and research to inform a targeted campaign ‘We Give North East Victoria’; that will foster a stronger culture of giving in our region. Backed by the data, Into Our Hands will work with local communities to realise our collective vision of a strong, connected, resilient and sustainable north-east Victoria. We also envisage that this initiative will create a new model for community asset and endowment building for other Community Foundations and the broader philanthropy sector to follow, adapt and apply. We look forward to sharing our experience and learnings with others over time. We believe that this model is applicable throughout Australia and may be especially empowering in rural and regional Australia, where 70% of Australian community foundations are located.
For further information on this approach and how this can support community foundations and regional development , please contact Sarah Thompson, Into Our Hands Community Foundation Executive Officer, info@intoourhandsfoundation.
Introducing Australia’s first wealth transfer report
Welcome to an Australian first; an evidence-based approach to assessing and understanding the magnitude of a region’s intergenerational household wealth transfer and profits from local industry. This study explores what this could mean for community asset and endowment building in the short and long-term and ultimately, how this could translate into growing strong, vibrant, resilient and sustainable communities across Australia.