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'The GreatWealth Transfer' and Women's Giving

Nearly 26 years ago, Anne Arundel County resident Carol Thompson gathered other community-minded residents and formed what we now call the Community Foundation of Anne Arundel County (CFAAC). Thompson’s efforts embodied the giving spirit reflected in other women philanthropists throughout history. From Madame C.J. Walker, a self-made African American millionaire who created employment and scholarship opportunities for women, to modern-day philanthropists like MacKenzie Scott, women have had a front seat in driving change for good through their actions or finances. March is Women’s History Month, so it’s fitting to explore women’s roles in philanthropy past, present and future.

CFAAC Community Connector - March 2024

In this edition of the CFAAC Community Connector, provide updates on our grant applications, our impact, insights into 'The Great Wealth Transfer', scholarship opportunities, new Funds, community events, and news for professional advisors.

The Great Wealth Transfer: Baby Boomers Take Note

The Great Wealth Transfer sees baby boomer assets, estimated at $30 to $68 trillion, shifting to younger generations like Gen X and millennials as boomers retire. With the average boomer's net worth ranging from $970,000 to $1.2 million, millennials face unprecedented opportunities and challenges. Financial experts recommend boomers strengthen estate plans and engage in transparent discussions with beneficiaries. This series explores strategies and implications of this monumental wealth transfer.

Love in Action: How to Strengthen and Support our Community

At the heart of every community lies a driving force — the love, support and care of its residents. Anne Arundel County is no exception.

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