About the Transfer of Wealth
The transfer of wealth represents Ohio’s potential – it refers to the total assets that are expected to be passed down from one generation to the next in the coming decades. While wealth transfer has always occurred between generations, a notable change is that many successors no longer live where they grew up. As a result, if this wealth is only transferred to them, it risks leaving the Ohio communities that fostered it.
According to the 2025 Ohio Transfer of Wealth Study, Ohioans’ current net worth is estimated at $5.4 trillion. Over the next decade, as baby boomers sell their homes, businesses and transfer other assets, approximately $618 billion of this wealth will change hands. Over 25 years, the figure swells to $1.7 trillion.
The research indicates that when communities activate these assets, economic vitality increases, leading to prosperity for our towns, cities and counties across Ohio. By keeping just some of that wealth in local communities, Ohioans and their families can create meaningful legacies in the places they’ve called home.
As the membership organization for Ohio’s foundations and philanthropic partners, Philanthropy Ohio accelerates effective philanthropy and builds networks that can truly change lives across communities for greater impact in our state.
On Thursday, March 26, Philanthropy Ohio released the 2025 Transfer of Wealth Report, providing our members with new Ohio-specific data to guide philanthropic strategies and actions statewide. There is so much abundance – enough to change the future of our communities statewide. We commissioned this research to help our network of foundations and Professional Partners tap into that potential.
The Opportunity
Across the state of Ohio, an estimated $618 billion in wealth will transfer from one generation to the next between now and 2035. Imagine what would be possible if just 5% of that wealth – more than $30 billion – were reinvested in Ohio communities through charitable giving!
As wealth transitions to the next generation, some will go to taxes, while much will benefit heirs, many of whom no longer live in the places where this wealth was built and accumulated. Once wealth leaves our communities, it is less likely to return.
By leaving a portion of our wealth to the communities where it was created, we can help ensure a more prosperous future for our communities. If we don't take action, we risk losing this opportunity because once wealth leaves the community, it’s gone forever. However, when our wealth is endowed in our community, it remains here indefinitely. If even just 5% of this wealth were directed to nonprofits, with a 5% annual payout on these new endowments, $1.5 billion could be granted every year, forever.
Ohio is rich in abundance, wealth and generosity, and every Ohio community has treasure to give. This wealth transition is underway, and we must act swiftly to protect and direct these assets to our communities, where they can have the greatest impact. Together, we can activate community-changing wealth, strengthen nonprofits and build something truly transformational for Ohio’s families and future generations.
Key Considerations
- As wealth changes hands over the next 10 to 25 years, funders have a strategic opportunity to invest in people, places and communities to foster long-term stability and enable families to thrive. Nonprofits are facing significant pressure, and funders have the ability to direct resources where they are needed most.
- The relatively few Ohio counties with strong population and wealth growth will see sustained opportunities, while aging or declining counties will experience short-term surges followed by declines.
- Economic uncertainty, rising wealth inequality and structural trends (e.g., service-sector growth, declining job security and work-related benefits) make wealth development more challenging and will impact donor development.
- While wealth is increasing for a small percentage of households, equity remains a significant challenge, and the absence of race-based data likely understates the true extent of wealth disparities. Approximately 40 million Americans are working low-income and often struggle to meet their basic needs, which limits their ability to build wealth or give back to their communities.
- The U.S. is currently experiencing record levels of wealth concentration, with 67% of household wealth held by the top 10% – a level of inequality that exceeds that of the Gilded Age. The remaining 90% of U.S. households own just 33% of all U.S. household net worth.
The 2025 Ohio Transfer of Wealth Report and supplemental materials are available to Philanthropy Ohio members as an exclusive benefit of membership. You must be logged in to access the materials.
Members: Download the Ohio Transfer of Wealth Report & supplemental materials
Nonmembers: Purchase the Ohio Transfer of Wealth Report & supplemental materials
For Funders
CEOs play a critical leadership role in helping communities understand the importance of directing the historic transfer of wealth toward philanthropic purposes that create lasting good.
- Use your platforms to convene donors, civic leaders and partners around shared priorities such as housing, education, health and economic mobility.
- Foster collaboration among foundations, nonprofits and public and private stakeholders to align resources and reduce duplication to achieve greater collective impact.
- Champion collaborative grantmaking, transparent communication and trust-based philanthropy to strengthen nonprofit capacity, build trust and ensure sustainability.
Fundraisers have an incredible opportunity to bridge donors' hopes and aspirations to the nonprofits that make that change happen.
- Connect with donors now and make the case for generosity.
- Share with them their incredible impact on the sector already and what's possible when they choose to invest their wealth in causes that shape our community.
Program Officers can unleash transformational change in philanthropy by broadening their aperture.
- Revisit funding restrictions and adopt a more unrestricted approach to funding, which enables nonprofits to think differently, more systematically and has the greatest potential for long-term success on the issues important to our communities.
- Fund advocacy – it's a force multiplier that ensures every dollar granted operates in a more favorable environment. Nonprofits need funding for training and policy implementation to ensure success.
Private Foundations hold a vital role in the philanthropic ecosystem.
- Consider exceeding the required 5% spending policy without ending perpetuity, as nonprofits struggle to meet the increasing needs of our communities while markets have been favorable.
- Explore how much more money could be granted out if you increased your spending policy by half a percent, a whole percent or 3% when possible and the impact that could have on our communities.
- Evolve practices to better support nonprofit operations and embrace the principles of trust-based philanthropy, becoming better partners to nonprofits. Ultimately, philanthropy will be more strategic, rewarding and impactful when funders approach their relationships with nonprofits from a place of trust and collaboration rather than compliance and control.
For Donors
Maybe you don’t think of yourself as wealthy, but you do think of yourself as a good neighbor, hard worker and someone who shows up when it counts. If you find purpose in being civically involved, believe in your community and understand that improving a community requires everyone's effort, then you have a special role to play in leaving a legacy and strengthening your community for future generations.
As you plan for your financial future, think about how you can continue to positively impact your community through community foundations and nonprofits. Leaving a legacy is easier than you might think, and once your wealth is endowed in your community, it remains there forever. Now is the time for Ohioans to make a meaningful local impact. Connect with your family, your financial advisor and your local community foundation to discuss your values, goals and financial plans, and explore how you can make a significant difference in your local community.
For Professional Advisors
Professional advisors have the power and the trust to move millions into the charitable sector with authentic conversations. Trusted advisors work with clients and give advice on matters that closely affect their livelihood, the future of their families and how to structure the most guarded assets to grow wealth and legacy.
As advisors help families plan for paying college tuition, finalizing their retirement age and what long-term care may look like, are there also conversations about what they want their community to be and the causes they care about? When we naturally integrate conversations about philanthropy and legacy giving into the financial planning and legal planning process, it just becomes second nature. Professional advisors can help drive this transformational mindset shift by engaging people who already trust them to steer them in the right direction.
For Leadership Investors
Philanthropy Ohio extends its heartfelt gratitude to our leadership investors for your generous support of the Ohio Transfer of Wealth Study: The Columbus Foundation, The Dayton Foundation, Erie County Community Foundation, Community Foundation of the Mahoning Valley and Richland County Foundation. This important research would not be possible without your contributions.
For our Leadership Investors, we have created a toolkit to help your community foundation share and promote the findings of the Ohio Transfer of Wealth report to enhance philanthropy and strengthen communities across Ohio. You must be logged in to access the toolkit.
Thank You!
The 2025 Ohio Transfer of Wealth Report was made possible thanks to the generous support of our investors:
Leadership Investors
Supporters
Cleveland Foundation
Delaware County Foundation
Fairfield County Foundation
Highland Consulting Associates, Inc.
Licking County Foundation
Community Foundation of Lorain County
Marion Community Foundation
Muskingum County Community Foundation
The Troy Foundation
Union County Foundation
Contributors
Clinton County Foundation
Bryan Area Foundation, Inc.
About the 2025 Transfer of Wealth Study
This study is the first Ohio Transfer of Wealth analysis since 2007 and was conducted by respected researchers Don Macke and Cathy Kottwitz. It was produced by the Macke Carver & Associates LLC Partnership. Don and Cathy were part of the Center for Rural Entrepreneurship and worked with LOCUS Impact Investing’s Transfer of Wealth Research Team from 2000 to 2018. During this time, they produced over 60 Transfer of Wealth studies across the United States. Don also led the 2007 Ohio Transfer of Wealth Study.
For this analysis, 2024 was chosen as the base year. The estimates of wealth transfer focus solely on household wealth holdings and do not account for other forms of wealth held by businesses, nonprofit organizations or government entities. These estimates are primarily defined by the U.S. Survey of Consumer Finances and calibrated by the U.S. Federal Reserve. The analysis is presented in "inflation-adjusted dollars."
The scenario numbers produced are conservative and not predictive; rather, they illustrate potential outcomes or a "likely future" based on past and current trends. These figures are not intended to dictate policy but to inspire strategic discussions centered around a simple question: What if 5% of this wealth were reinvested to help build and sustain the community where it was made and accumulated?
Want to learn more about joining Philanthropy Ohio or getting the most out of your membership? Contact Jessica Howard.
Gain exclusive insight into groundbreaking research on the remarkable opportunity presented by the Ohio Transfer of Wealth in this recording.